Formula Systems (1985) (NASDAQ:FORTY) Sees Large Volume Increase – Should You Buy?

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) saw strong trading volume on Monday . 453 shares traded hands during mid-day trading, an increase of 81% from the previous session’s volume of 250 shares.The stock last traded at $165.3450 and had previously closed at $170.01.

Analyst Ratings Changes

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

Formula Systems (1985) Stock Performance

The stock has a market cap of $2.50 billion, a price-to-earnings ratio of 38.31 and a beta of 1.06. 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 has a 50 day simple moving average of $168.48 and a 200 day simple moving average of $146.61.

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

Formula Systems (1985) Cuts Dividend

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

Hedge Funds Weigh In On Formula Systems (1985)

Hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in shares of Formula Systems (1985) in the second quarter worth approximately $73,000. Elevation Point Wealth Partners LLC bought a new position in Formula Systems (1985) during the 2nd quarter worth approximately $222,000. CX Institutional acquired a new position in shares of Formula Systems (1985) in the 3rd quarter worth approximately $398,000. Finally, GHP Investment Advisors Inc. lifted its position in shares of Formula Systems (1985) by 10.8% in the 3rd quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock worth $1,082,000 after purchasing an additional 755 shares during the period. 34.76% of the stock is currently owned by institutional investors.

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.