Formula Systems (1985) (NASDAQ:FORTY) Sees Large Volume Increase – Time to Buy?

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) saw unusually-high trading volume on Monday . 1,613 shares changed hands during trading, an increase of 160% from the previous session’s volume of 620 shares.The stock last traded at $107.90 and had previously closed at $108.00.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Formula Systems (1985) in a report on Friday, March 27th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Formula Systems (1985) currently has a consensus rating of “Hold”.

Formula Systems (1985) Trading Down 0.1%

The firm has a fifty day simple moving average of $122.32 and a two-hundred day simple moving average of $133.34. The firm has a market capitalization of $1.65 billion, a P/E ratio of 2.74 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.68 and a quick ratio of 1.66.

Formula Systems (1985) (NASDAQ:FORTY) last issued 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 return on equity of 4.01% and a net margin of 21.58%.The firm had revenue of $738.29 million for the quarter.

Formula Systems (1985) Announces Dividend

The company also recently disclosed a special dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 22nd were issued a $13.045 dividend. The ex-dividend date of this dividend was Friday, May 22nd. Formula Systems (1985)’s dividend payout ratio (DPR) is 1.88%.

Institutional Investors Weigh In On Formula Systems (1985)

Several institutional investors have recently added to or reduced their stakes in FORTY. Altshuler Shaham Ltd increased its stake in shares of Formula Systems (1985) by 10.4% in the first 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 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 valued at $391,000 after buying an additional 86 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in Formula Systems (1985) in the 1st quarter worth approximately $206,000. Finally, Raymond James Financial Inc. purchased a new position in Formula Systems (1985) in the 2nd quarter valued at approximately $73,000. 34.76% of the stock is owned by hedge funds and other institutional investors.

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.