Formula Systems (1985) (NASDAQ:FORTY) Trading Up 7% – Still a Buy?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) was up 7% during mid-day trading on Thursday . The company traded as high as $168.90 and last traded at $171.1690. Approximately 187 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 845 shares. The stock had previously closed at $160.00.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Monday. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold”.

Formula Systems (1985) Price Performance

The company has a 50 day moving average of $147.84 and a 200 day moving average of $130.82. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.58 and a current ratio of 1.60. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of 36.86 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 EPS for the quarter. The business had revenue of $696.64 million during the quarter. Formula Systems (1985) had a return on equity of 4.55% and a net margin of 2.49%.

Formula Systems (1985) Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 23rd. Stockholders of record on Tuesday, December 30th will be issued a $0.5021 dividend. The ex-dividend date is Tuesday, December 30th. This represents a $2.01 dividend on an annualized basis and a dividend yield of 1.2%. Formula Systems (1985)’s dividend payout ratio is presently 31.28%.

Hedge Funds Weigh In On Formula Systems (1985)

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