Formula Systems (1985) Ltd. (NASDAQ:FORTY) Stock Short Interest Report for October

Formula Systems (1985) Ltd. (NASDAQ:FORTY) was the target of a significant growth in short interest in October. As of October 15th, there was short interest totaling 1,982 shares, a growth of 3,203.3% from the September 30th total of 60 shares. Based on an average daily trading volume, of 658 shares, the days-to-cover ratio is presently 3.0 days. Approximately 0.0% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its stake in shares of Formula Systems (1985) by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock valued at $391,000 after buying an additional 86 shares during the period. Altshuler Shaham Ltd increased its holdings in shares of Formula Systems (1985) by 10.4% during the 1st quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock worth $926,000 after buying an additional 727 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new stake in shares of Formula Systems (1985) during the 1st quarter valued at approximately $206,000. Hedge funds and other institutional investors own 34.76% of the company’s stock.

Formula Systems (1985) Price Performance

Shares of NASDAQ:FORTY remained flat at $129.90 during midday trading on Tuesday. The company had a trading volume of 2,043 shares, compared to its average volume of 516. Formula Systems has a 12-month low of $102.01 and a 12-month high of $190.56. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $1.99 billion, a PE ratio of 3.26 and a beta of 1.25. The firm’s fifty day moving average is $119.01 and its 200-day moving average is $126.22.

Formula Systems (1985) (NASDAQ:FORTY) last announced its quarterly earnings data on Wednesday, August 26th. The technology company reported $1.47 EPS for the quarter. Formula Systems (1985) had a return on equity of 4.38% and a net margin of 21.57%.

Formula Systems (1985) Announces Dividend

The business also recently announced a special dividend, which was paid on Friday, October 16th. Shareholders of record on Tuesday, September 22nd were paid a $1.63 dividend. The ex-dividend date of this dividend was Tuesday, September 22nd. Formula Systems (1985)’s dividend payout ratio (DPR) is 6.03%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Formula Systems (1985) in a research note on Thursday, August 27th. One equities research analyst has rated the stock with a Hold rating. According to MarketBeat, the stock presently has a consensus rating of “Hold”.

About Formula Systems (1985)

Formula Systems (1985) Ltd. is an Israel-based holding company that invests in and manages technology businesses. Established in 1985, the company focuses primarily on software, information technology services and technology-enabled business solutions through its principal operating subsidiaries.

Formula Systems’ portfolio includes Matrix IT, an Israeli provider of systems integration, consulting, outsourcing, cloud, cybersecurity and other information technology services; Magic Software Enterprises, which provides software development, digital transformation, cloud, data and application integration services; and Sapiens International, a provider of software platforms and solutions for the insurance, financial services and retirement markets.

Through these businesses, Formula Systems serves customers in Israel and international markets, including North America, Europe and the Asia-Pacific region.