Formula Systems (1985) (NASDAQ:FORTY) Sees Unusually-High Trading Volume – Here’s What Happened

Formula Systems (1985) Ltd. (NASDAQ:FORTY) saw an uptick in trading volume on Thursday. Approximately 3,868 shares were traded during trading, an increase of 388% from the previous session’s volume of 792 shares. The stock last traded at $113.50 and had previously closed at $114.99.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated 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, Based on data from MarketBeat, the company has an average rating of “Hold”.

Formula Systems (1985) Price Performance

The stock has a 50 day moving average of $116.60 and a 200-day moving average of $121.73. The firm has a market capitalization of $1.74 billion, a P/E ratio of 2.85 and a beta of 1.25. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.44 and a current ratio of 1.48.

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

Formula Systems (1985) Announces Dividend

The firm also recently declared a special dividend, which will be paid on Friday, October 16th. Investors of record on Tuesday, September 22nd will be paid a dividend of $1.63 per share. The ex-dividend date is Tuesday, September 22nd. Formula Systems (1985)’s dividend payout ratio is presently 4.87%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Elevation Point Wealth Partners LLC bought a new stake in Formula Systems (1985) during the 1st quarter valued at $206,000. Dimensional Fund Advisors LP boosted its holdings in shares of Formula Systems (1985) by 2.7% in 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 period. Finally, Altshuler Shaham Ltd boosted its holdings in shares of Formula Systems (1985) by 30.8% in the fourth quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company’s stock worth $1,182,000 after acquiring an additional 1,650 shares during the period. 34.76% of the stock is currently owned by hedge funds and other institutional investors.

About Formula Systems (1985)

Formula Systems (1985) Ltd. is an Israel-based holding company that operates through a group of technology and information-services businesses. Rather than developing a single product line, Formula Systems invests in and manages companies that provide software, consulting, systems integration, information technology services and other enterprise technology solutions.

Its principal subsidiaries include Matrix IT, a provider of information technology services, consulting, outsourcing, systems integration and training; Sapiens International, which develops software platforms and solutions for the insurance industry; and Magic Software Enterprises, which provides application development, digital transformation, integration, cloud and information technology services.