Formula Systems (1985) (NASDAQ:FORTY) Trading 6.4% Higher – Should You Buy?

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s stock price was up 6.4% during trading on Thursday . The company traded as high as $165.68 and last traded at $175.64. Approximately 242 shares changed hands during mid-day trading, a decline of 14% from the average daily volume of 282 shares. The stock had previously closed at $165.00.

Analyst Ratings Changes

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

Formula Systems (1985) Price Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 1.60 and a quick ratio of 1.58. The firm has a market capitalization of $2.44 billion, a PE ratio of 35.02 and a beta of 1.06. The company has a 50-day moving average price of $169.66 and a 200-day moving average price of $147.62.

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

Formula Systems (1985) Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 23rd. Investors of record on Tuesday, December 30th were given a dividend of $0.5021 per share. The ex-dividend date was Tuesday, December 30th. This represents a $2.01 annualized dividend and a yield of 1.3%. Formula Systems (1985)’s dividend payout ratio is 32.38%.

Institutional Trading of Formula Systems (1985)

Several institutional investors have recently made changes to their positions in FORTY. Elevation Point Wealth Partners LLC purchased a new stake in shares of Formula Systems (1985) during the 2nd quarter worth about $222,000. Raymond James Financial Inc. purchased a new stake in Formula Systems (1985) during the 2nd quarter worth approximately $73,000. CX Institutional acquired a new stake in Formula Systems (1985) in the third quarter valued at $398,000. Finally, GHP Investment Advisors Inc. increased 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 last quarter. 34.76% of the stock is owned by hedge funds and other 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.