Formula Systems (1985) (NASDAQ:FORTY) Sees Large Volume Increase – What’s Next?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) saw unusually-strong trading volume on Monday . Approximately 1,613 shares traded hands during mid-day trading, an increase of 160% from the previous session’s volume of 620 shares.The stock last traded at $107.90 and had previously closed at $108.00.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Formula Systems (1985) in a report on Friday, March 27th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

Formula Systems (1985) Stock Performance

The business has a 50 day moving average price of $120.81 and a 200-day moving average price of $132.44. The firm has a market capitalization of $1.68 billion, a PE ratio of 2.79 and a beta of 1.21. The company has a current ratio of 1.68, a quick ratio of 1.66 and a debt-to-equity ratio of 0.12.

Formula Systems (1985) (NASDAQ:FORTY) last issued its earnings results on Thursday, May 28th. The technology company reported $2.25 EPS for the quarter. Formula Systems (1985) had a net margin of 21.58% and a return on equity of 4.01%. The company had revenue of $738.29 million for the quarter.

Formula Systems (1985) Announces Dividend

The company also recently disclosed a special dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 22nd were issued a dividend of $13.045 per share. The ex-dividend date of this dividend was Friday, May 22nd. Formula Systems (1985)’s payout ratio is currently 1.88%.

Hedge Funds Weigh In On Formula Systems (1985)

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Altshuler Shaham Ltd lifted its stake in Formula Systems (1985) by 30.8% in the 4th quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company’s stock valued at $1,182,000 after buying an additional 1,650 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Formula Systems (1985) in the 2nd quarter worth about $73,000. Dimensional Fund Advisors LP grew its holdings in 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 valued at $391,000 after purchasing an additional 86 shares during the period. Finally, Elevation Point Wealth Partners LLC purchased a new stake in shares of Formula Systems (1985) during the 1st quarter valued at $206,000. Institutional investors and hedge funds own 34.76% of the company’s stock.

About Formula Systems (1985)

Formula Systems (1985) Ltd is an Israeli publicly traded holding company specializing in the software and information technology sectors. Founded in 1985 and listed on NASDAQ under the ticker FORTY, the company focuses on acquiring, investing in and developing independent software firms. Its core mission is to foster innovation in enterprise software, cybersecurity and digital transformation solutions.

The company’s principal activities center on holding controlling and significant equity stakes in several market-leading software enterprises.