Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Up – Should You Buy?

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $102.01, but opened at $107.00. Formula Systems (1985) shares last traded at $107.00, with a volume of 552 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Friday, March 27th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold”.

Formula Systems (1985) Trading Up 4.9%

The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.66 and a current ratio of 1.68. The company’s 50 day moving average is $129.52 and its 200 day moving average is $139.64. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 2.72 and a beta of 1.17.

Formula Systems (1985) (NASDAQ:FORTY) last announced its quarterly earnings data on Thursday, May 28th. The technology company reported $2.25 EPS for the quarter. Formula Systems (1985) had a net margin of 21.58% and a return on equity of 4.01%. The business had revenue of $738.28 million during the quarter.

Formula Systems (1985) Announces Dividend

The company also recently declared a special dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 22nd were paid a dividend of $13.045 per share. The ex-dividend date was Friday, May 22nd. Formula Systems (1985)’s payout ratio is currently 2.72%.

Institutional Trading of Formula Systems (1985)

A number of hedge funds have recently modified their holdings of the company. Altshuler Shaham Ltd grew its holdings in shares of Formula Systems (1985) by 10.4% during the 1st quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock worth $926,000 after purchasing an additional 727 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Formula Systems (1985) by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock valued at $391,000 after purchasing an additional 86 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in Formula Systems (1985) in the first quarter worth $206,000. Finally, Raymond James Financial Inc. acquired a new stake in Formula Systems (1985) during the second quarter worth $73,000. Institutional investors own 34.76% of the company’s stock.

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.