Formula Systems (1985) (NASDAQ:FORTY) Stock Price Up 8.7% – Still a Buy?

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s share price was up 8.7% on Tuesday. The stock traded as high as $127.28 and last traded at $127.28. 807 shares traded hands during mid-day trading, a decline of 4% from the average daily volume of 838 shares. The stock had previously closed at $117.05.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Formula Systems (1985) in a research note on Thursday, August 27th. One equities research analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Formula Systems (1985) Price Performance

The business has a 50-day simple moving average of $119.37 and a 200-day simple moving average of $123.33. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.44 and a current ratio of 1.48. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 26.97 and a beta of 1.23.

Formula Systems (1985) (NASDAQ:FORTY) last posted its quarterly earnings results on Wednesday, August 26th. The technology company reported $1.47 EPS for the quarter. Formula Systems (1985) had a net margin of 21.57% and a return on equity of 4.38%.

Formula Systems (1985) Announces Dividend

The firm also recently declared a special dividend, which was paid on Friday, October 16th. Investors of record on Tuesday, September 22nd were issued a $1.63 dividend. The ex-dividend date of this dividend was Tuesday, September 22nd. Formula Systems (1985)’s dividend payout ratio is 6.03%.

Institutional Trading of Formula Systems (1985)

A hedge fund recently raised its position in Formula Systems (1985) stock. Altshuler Shaham Ltd lifted its stake in Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 10.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,742 shares of the technology company’s stock after buying an additional 727 shares during the period. Altshuler Shaham Ltd owned approximately 0.05% of Formula Systems (1985) worth $926,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 34.76% of the company’s stock.

About Formula Systems (1985)

Formula Systems (1985) Ltd. is an Israel-based holding company focused on software and information technology services. Through its subsidiaries, it provides software development, systems integration, IT consulting and outsourcing, and business software for areas including insurance and financial services. Its principal subsidiaries include Matrix IT, Sapiens International and Magic Software Enterprises. Their offerings span technology services and digital solutions, insurance and financial software, and application development and integration platforms.