Formula Systems (1985) Ltd. (NASDAQ:FORTY) Sees Large Decline in Short Interest

Formula Systems (1985) Ltd. (NASDAQ:FORTY) was the recipient of a large decline in short interest during the month of June. As of June 30th, there was short interest totaling 323 shares, a decline of 46.0% from the June 15th total of 598 shares. Based on an average daily volume of 460 shares, the short-interest ratio is currently 0.7 days. Approximately 0.0% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated 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 has an average rating of “Hold”.

Institutional Trading of Formula Systems (1985)

A number of large investors have recently made changes to their positions in FORTY. Altshuler Shaham Ltd raised its stake in Formula Systems (1985) by 10.4% in the 1st quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock valued at $926,000 after acquiring an additional 727 shares during the period. Dimensional Fund Advisors LP lifted its stake 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 last quarter. Elevation Point Wealth Partners LLC acquired a new stake in shares of Formula Systems (1985) during the 1st quarter worth about $206,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Formula Systems (1985) during the 2nd quarter worth about $73,000. Institutional investors own 34.76% of the company’s stock.

Formula Systems (1985) Trading Up 1.1%

Shares of Formula Systems (1985) stock traded up $1.20 on Thursday, hitting $108.00. 603 shares of the company’s stock traded hands, compared to its average volume of 613. The firm’s 50-day moving average price is $123.87 and its two-hundred day moving average price is $134.30. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.68 and a quick ratio of 1.66. The stock has a market capitalization of $1.66 billion, a PE ratio of 2.75 and a beta of 1.21. Formula Systems has a one year low of $102.01 and a one year high of $190.56.

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. The business had revenue of $738.28 million during the quarter. Formula Systems (1985) had a return on equity of 4.01% and a net margin of 21.58%.

Formula Systems (1985) Announces Dividend

The company also recently declared 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 of this dividend was Friday, May 22nd. Formula Systems (1985)’s dividend payout ratio (DPR) is currently 1.88%.

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.