Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Up – What’s Next?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) gapped up prior to trading on Friday . The stock had previously closed at $96.05, but opened at $101.83. Formula Systems (1985) shares last traded at $101.60, with a volume of 109 shares.

Formula Systems (1985) Stock Performance

The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 21.08 and a beta of 0.88. The company has a current ratio of 1.41, a quick ratio of 1.38 and a debt-to-equity ratio of 0.22. The stock’s 50 day moving average is $90.70 and its two-hundred day moving average is $90.29.

Formula Systems (1985) (NASDAQ:FORTY) last issued its quarterly earnings results on Thursday, March 20th. The technology company reported $1.28 EPS for the quarter. Formula Systems (1985) had a net margin of 2.78% and a return on equity of 5.68%. The firm had revenue of $691.50 million for the quarter.

Formula Systems (1985) Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Wednesday, April 30th will be given a dividend of $0.6855 per share. The ex-dividend date is Wednesday, April 30th. This is a boost from Formula Systems (1985)’s previous semi-annual dividend of $0.63. This represents a yield of 1%. Formula Systems (1985)’s payout ratio is 26.92%.

Institutional Investors Weigh In On Formula Systems (1985)

A hedge fund recently raised its stake in Formula Systems (1985) stock. Altshuler Shaham Ltd increased its position in Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 7.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,385 shares of the technology company’s stock after purchasing an additional 450 shares during the quarter. Altshuler Shaham Ltd’s holdings in Formula Systems (1985) were worth $536,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 34.76% of the company’s stock.

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.