Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Up – Time to Buy?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares gapped up prior to trading on Monday. The stock had previously closed at $117.00, but opened at $126.00. Formula Systems (1985) shares last traded at $127.12, with a volume of 605 shares.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Thursday, August 27th. One investment 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) Stock Performance

The company has a 50-day moving average price of $118.99 and a two-hundred day moving average price of $120.81. The stock has a market capitalization of $1.95 billion, a P/E ratio of 3.19 and a beta of 1.25. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.13.

Formula Systems (1985) (NASDAQ:FORTY) last released its quarterly earnings data on Wednesday, August 26th. The technology company reported $1.47 EPS 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 company also recently announced a special dividend, which was paid on Friday, October 16th. Investors of record on Tuesday, September 22nd were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Tuesday, September 22nd. Formula Systems (1985)’s dividend payout ratio is 6.03%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in shares of 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 valued at $391,000 after purchasing an additional 86 shares in the last quarter. Altshuler Shaham Ltd raised its position 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 buying an additional 727 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new stake in shares of Formula Systems (1985) in the first quarter worth $206,000. 34.76% of the stock is owned by institutional investors.

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.