Formula Systems (1985) (NASDAQ:FORTY) Reaches New 52-Week High – Time to Buy?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $87.50 and last traded at $87.50, with a volume of 992 shares traded. The stock had previously closed at $83.93.

Formula Systems (1985) Stock Up 4.3 %

The company has a quick ratio of 1.37, a current ratio of 1.40 and a debt-to-equity ratio of 0.19. The firm has a fifty day moving average of $77.45 and a 200-day moving average of $76.79. The firm has a market cap of $1.34 billion, a P/E ratio of 19.89 and a beta of 1.11.

Formula Systems (1985) (NASDAQ:FORTY) last issued its earnings results on Tuesday, August 20th. The technology company reported $1.20 earnings per share for the quarter. The business had revenue of $667.68 million for the quarter. Formula Systems (1985) had a net margin of 2.53% and a return on equity of 5.21%.

Formula Systems (1985) Increases Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were issued a $0.63 dividend. This is a boost from Formula Systems (1985)’s previous Semi-Annual dividend of $0.45. This represents a yield of 1.2%. The ex-dividend date was Thursday, September 12th. Formula Systems (1985)’s dividend payout ratio is currently 21.09%.

Hedge Funds Weigh In On Formula Systems (1985)

An institutional investor recently raised its position in Formula Systems (1985) stock. Altshuler Shaham Ltd raised its position in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 52.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,711 shares of the technology company’s stock after purchasing an additional 2,303 shares during the period. Altshuler Shaham Ltd’s holdings in Formula Systems (1985) were worth $478,000 at the end of the most recent reporting period. 34.76% of the stock is owned by hedge funds and other institutional investors.

About Formula Systems (1985)

Formula Systems (1985) Ltd., through its subsidiaries, provides proprietary and non-proprietary software solutions, IT professional services, software product marketing and support, computer infrastructure and integration solutions, and learning and integration worldwide. The company offers computer and telecommunication infrastructure solutions; and sells and markets computers and peripheral equipment, and cloud based solutions and services relating to databases and big data.