Formula Systems (1985) (NASDAQ:FORTY) Sees Strong Trading Volume – Should You Buy?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares saw strong trading volume on Tuesday . 367 shares changed hands during trading, an increase of 54% from the previous session’s volume of 238 shares.The stock last traded at $164.66 and had previously closed at $170.00.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, Formula Systems (1985) presently has a consensus rating of “Hold”.

Formula Systems (1985) Trading Down 2.9%

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 stock has a market capitalization of $2.50 billion, a PE ratio of 36.37 and a beta of 1.06. The business’s 50-day moving average is $168.23 and its two-hundred day moving average is $146.09.

Formula Systems (1985) (NASDAQ:FORTY) last issued 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 company had revenue of $696.64 million for the quarter.

Formula Systems (1985) Cuts Dividend

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

Institutional Investors Weigh In On Formula Systems (1985)

Several large investors have recently modified their holdings of the company. Elevation Point Wealth Partners LLC acquired a new position in shares of Formula Systems (1985) in the 2nd quarter valued at $222,000. Raymond James Financial Inc. purchased a new position in Formula Systems (1985) during the 2nd quarter worth $73,000. CX Institutional acquired a new position in Formula Systems (1985) in the third quarter valued at $398,000. Finally, 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 period. 34.76% of the stock is owned by institutional investors and hedge funds.

Formula Systems (1985) Company Profile

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.