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

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) saw unusually-high trading volume on Wednesday . Approximately 531 shares were traded during trading, a decline of 13% from the previous session’s volume of 612 shares.The stock last traded at $110.72 and had previously closed at $108.53.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated 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, Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Formula Systems (1985) Stock Down 1.7%

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 stock has a market cap of $1.70 billion, a price-to-earnings ratio of 2.82 and a beta of 1.21. The firm’s 50-day simple moving average is $127.11 and its two-hundred day simple moving average is $137.22.

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

Formula Systems (1985) Announces Dividend

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

Hedge Funds Weigh In On Formula Systems (1985)

Hedge funds have recently added to or reduced their stakes in the company. Altshuler Shaham Ltd raised its holdings in Formula Systems (1985) by 30.8% during the 4th quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company’s stock worth $1,182,000 after purchasing an additional 1,650 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new position in shares of Formula Systems (1985) in the 1st quarter valued at about $206,000. Dimensional Fund Advisors LP grew its position in shares of Formula Systems (1985) by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock worth $391,000 after buying an additional 86 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Formula Systems (1985) during the 2nd quarter worth approximately $73,000. Institutional investors own 34.76% of the company’s stock.

About Formula Systems (1985)

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.