Formula Systems (1985) (NASDAQ:FORTY) Reaches New 52-Week High – Time to Buy?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $150.22 and last traded at $156.87, with a volume of 1231 shares changing hands. The stock had previously closed at $142.15.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FORTY. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Formula Systems (1985) in a research report on Wednesday. Wall Street Zen lowered Formula Systems (1985) from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 21st. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Formula Systems (1985) Price Performance

The firm has a market capitalization of $2.40 billion, a PE ratio of 31.56 and a beta of 0.90. The business has a 50-day moving average of $130.48 and a 200 day moving average of $113.90. The company has a current ratio of 1.21, a quick ratio of 1.17 and a debt-to-equity ratio of 0.17.

Formula Systems (1985) (NASDAQ:FORTY) last released its quarterly earnings results on Tuesday, August 19th. The technology company reported $0.95 EPS for the quarter. The business had revenue of $743.37 million during the quarter. Formula Systems (1985) had a return on equity of 5.58% and a net margin of 2.70%.

Formula Systems (1985) Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Tuesday, October 14th will be paid a $0.505 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Tuesday, October 14th. Formula Systems (1985)’s dividend payout ratio is 26.76%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Formula Systems (1985) stock. Raymond James Financial Inc. acquired a new stake in Formula Systems (1985) Ltd. (NASDAQ:FORTY) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 568 shares of the technology company’s stock, valued at approximately $73,000. 34.76% of the stock is owned by institutional investors.

About Formula Systems (1985)

Formula Systems (1985) Ltd., through its subsidiaries, provides proprietary and non-proprietary software solutions, IT professional services, software product marketing and support, computer infrastructure and integration solutions, and learning and integration worldwide. The company offers computer and telecommunication infrastructure solutions; and sells and markets computers and peripheral equipment, and cloud based solutions and services relating to databases and big data.