Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Up – What’s Next?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares gapped up prior to trading on Wednesday . The stock had previously closed at $102.01, but opened at $107.00. Formula Systems (1985) shares last traded at $107.00, with a volume of 552 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed 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, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Formula Systems (1985) Price Performance

The company has a current ratio of 1.68, a quick ratio of 1.66 and a debt-to-equity ratio of 0.12. The firm’s 50 day moving average price is $128.64 and its two-hundred day moving average price is $138.62. The company has a market capitalization of $1.64 billion, a P/E ratio of 2.72 and a beta of 1.21.

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

Formula Systems (1985) Announces Dividend

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

Institutional Investors Weigh In On Formula Systems (1985)

A number of large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its stake in Formula Systems (1985) by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock worth $391,000 after buying an additional 86 shares during the period. Raymond James Financial Inc. bought a new position in shares of Formula Systems (1985) in the second quarter valued at $73,000. Altshuler Shaham Ltd raised its stake in shares of Formula Systems (1985) by 10.4% in the first quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock worth $926,000 after purchasing an additional 727 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new stake in Formula Systems (1985) during the first quarter worth $206,000. 34.76% of the stock is currently 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.