Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Up – Still a Buy?

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) gapped up before the market opened on Tuesday . The stock had previously closed at $107.00, but opened at $113.00. Formula Systems (1985) shares last traded at $113.00, with a volume of 939 shares changing hands.

Analyst Upgrades and Downgrades

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

Formula Systems (1985) Stock Up 4.1%

The firm has a 50-day moving average of $127.67 and a 200 day moving average of $137.67. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 2.87 and a beta of 1.21. The company has a current ratio of 1.68, a quick ratio of 1.66 and a debt-to-equity ratio of 0.12.

Formula Systems (1985) (NASDAQ:FORTY) last released its quarterly earnings results on Thursday, May 28th. The technology company reported $2.25 earnings per share for the quarter. The firm had revenue of $738.28 million during the quarter. Formula Systems (1985) had a return on equity of 4.01% and a net margin of 21.58%.

Formula Systems (1985) Dividend Announcement

The company also recently announced a special dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 22nd were paid a $13.045 dividend. The ex-dividend date was Friday, May 22nd. Formula Systems (1985)’s dividend payout ratio is 2.72%.

Institutional Investors Weigh In On Formula Systems (1985)

A number of large investors have recently added to or reduced their stakes in FORTY. Raymond James Financial Inc. acquired a new position in Formula Systems (1985) in the 2nd quarter worth $73,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Formula Systems (1985) during the first quarter valued at about $206,000. Dimensional Fund Advisors LP increased its position in shares of Formula Systems (1985) by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock worth $391,000 after acquiring an additional 86 shares during the last quarter. Finally, Altshuler Shaham Ltd increased its position in shares of Formula Systems (1985) by 10.4% during the first quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock worth $926,000 after acquiring an additional 727 shares during the last quarter. 34.76% of the stock is owned by institutional investors and hedge funds.

About Formula Systems (1985)

Formula Systems (1985) Ltd is an Israeli publicly traded holding company specializing in the software and information technology sectors. Founded in 1985 and listed on NASDAQ under the ticker FORTY, the company focuses on acquiring, investing in and developing independent software firms. Its core mission is to foster innovation in enterprise software, cybersecurity and digital transformation solutions.

The company’s principal activities center on holding controlling and significant equity stakes in several market-leading software enterprises.