Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Up – Still a Buy?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) gapped up before the market opened on Friday . The stock had previously closed at $109.75, but opened at $113.99. Formula Systems (1985) shares last traded at $119.68, with a volume of 293 shares trading hands.

Formula Systems (1985) Stock Performance

The business’s 50-day moving average price is $118.90 and its 200-day moving average price is $131.38. 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 $1.75 billion, a P/E ratio of 2.90 and a beta of 1.21.

Formula Systems (1985) (NASDAQ:FORTY) last released its earnings results on Thursday, May 28th. The technology company reported $2.25 earnings per share for the quarter. The company had revenue of $738.29 million for the quarter. Formula Systems (1985) had a return on equity of 4.01% and a net margin of 21.58%.

Formula Systems (1985) Dividend Announcement

The company also recently announced 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 is currently 1.88%.

Institutional Trading of Formula Systems (1985)

A number of hedge funds and other institutional investors have recently modified their holdings of FORTY. Altshuler Shaham Ltd boosted 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 acquiring an additional 727 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Formula Systems (1985) by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock worth $391,000 after purchasing an additional 86 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Formula Systems (1985) in the 2nd quarter worth approximately $73,000. Finally, Elevation Point Wealth Partners LLC bought a new position in Formula Systems (1985) in the 1st quarter worth approximately $206,000. 34.76% of the stock is owned by hedge funds and other institutional investors.

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.