Formula Systems (1985) (NASDAQ:FORTY) Sees Large Volume Increase – Here’s Why

Formula Systems (1985) Ltd. (NASDAQ:FORTY) saw strong trading volume on Wednesday . 1,572 shares were traded during trading, an increase of 393% from the previous session’s volume of 319 shares.The stock last traded at $167.7150 and had previously closed at $149.75.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Formula Systems (1985) in a research note on Monday. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Formula Systems (1985) currently has a consensus rating of “Hold”.

Formula Systems (1985) Stock Up 11.6%

The company has a quick ratio of 1.58, a current ratio of 1.60 and a debt-to-equity ratio of 0.15. The company’s 50 day moving average price is $147.23 and its 200 day moving average price is $130.56. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of 36.83 and a beta of 1.07.

Formula Systems (1985) (NASDAQ:FORTY) last announced its quarterly earnings data on Thursday, November 20th. The technology company reported $0.73 earnings per share (EPS) for the quarter. Formula Systems (1985) had a return on equity of 4.55% and a net margin of 2.49%.The firm had revenue of $696.64 million during the quarter.

Formula Systems (1985) Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 23rd. Shareholders of record on Tuesday, December 30th will be issued a $0.5021 dividend. This represents a $2.01 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, December 30th. Formula Systems (1985)’s dividend payout ratio is presently 32.60%.

Hedge Funds Weigh In On Formula Systems (1985)

Several large investors have recently made changes to their positions in FORTY. CX Institutional purchased a new position in Formula Systems (1985) in the third quarter valued at $398,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Formula Systems (1985) during the 2nd quarter worth about $222,000. GHP Investment Advisors Inc. boosted its stake in shares of Formula Systems (1985) by 10.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock worth $1,082,000 after acquiring an additional 755 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Formula Systems (1985) during the 2nd quarter valued at about $73,000. 34.76% of the stock is currently owned by institutional investors and hedge funds.

Formula Systems (1985) Company Profile

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.