Formula Systems (1985) (NASDAQ:FORTY) Sees Strong Trading Volume – Should You Buy?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares saw unusually-high trading volume on Thursday. Approximately 4,297 shares were traded during mid-day trading, an increase of 452% from the average daily volume of 779 shares. The stock last traded at $122.30 and had previously closed at $127.99.

Analyst Upgrades and Downgrades

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

Formula Systems (1985) Trading Down 5.4%

The business’s fifty day simple moving average is $119.61 and its two-hundred day simple moving average is $125.81. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 3.04 and a beta of 1.21. 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 posted its earnings results on Wednesday, August 26th. The technology company reported $1.47 earnings per share 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 company also recently announced a special dividend, which was paid on Friday, October 16th. Stockholders of record on Tuesday, September 22nd were paid a $1.63 dividend. The ex-dividend date was Tuesday, September 22nd. Formula Systems (1985)’s dividend payout ratio (DPR) is 6.03%.

Hedge Funds Weigh In On Formula Systems (1985)

Hedge funds and other institutional investors have recently bought and sold shares of the company. Elevation Point Wealth Partners LLC acquired a new position in shares of Formula Systems (1985) in the first quarter valued at approximately $206,000. Altshuler Shaham Ltd grew its holdings in Formula Systems (1985) by 10.4% in the 1st quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock valued at $926,000 after buying an additional 727 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake 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 acquiring an additional 86 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 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.