Formula Systems (1985) (NASDAQ:FORTY) Stock Price Breaks Above Two Hundred Day Moving Average – Should You Sell?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) passed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $123.55 and traded as high as $127.28. Formula Systems (1985) shares last traded at $127.28, with a volume of 837 shares trading hands.

Wall Street Analysts Forecast Growth

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

Formula Systems (1985) Stock Down 4.9%

The business has a 50-day moving average price of $119.37 and a two-hundred day moving average price of $123.33. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.13. The firm has a market cap of $1.85 billion, a PE ratio of 3.04 and a beta of 1.23.

Formula Systems (1985) (NASDAQ:FORTY) last released its earnings results on Wednesday, August 26th. The technology company reported $1.47 earnings per share (EPS) 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 business also recently disclosed 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 presently 6.03%.

Hedge Funds Weigh In On Formula Systems (1985)

A hedge fund recently raised its stake in Formula Systems (1985) stock. Altshuler Shaham Ltd increased its position in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 10.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,742 shares of the technology company’s stock after buying an additional 727 shares during the period. Altshuler Shaham Ltd owned about 0.05% of Formula Systems (1985) worth $926,000 at the end of the most recent reporting period. 34.76% of the stock is currently owned by hedge funds and other institutional investors.

Formula Systems (1985) Company Profile

Formula Systems (1985) Ltd. is an Israel-based holding company focused on software and information technology services. Through its subsidiaries, it provides software development, systems integration, IT consulting and outsourcing, and business software for areas including insurance and financial services. Its principal subsidiaries include Matrix IT, Sapiens International and Magic Software Enterprises. Their offerings span technology services and digital solutions, insurance and financial software, and application development and integration platforms.