Formula Systems (1985) (NASDAQ:FORTY) Shares Up 5.9% – Time to Buy?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) rose 5.9% during mid-day trading on Wednesday . The stock traded as high as $100.00 and last traded at $103.80. Approximately 672 shares traded hands during mid-day trading, a decline of 24% from the average daily volume of 884 shares. The stock had previously closed at $98.02.

Formula Systems (1985) Stock Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 1.41 and a quick ratio of 1.38. The company’s fifty day moving average price is $91.91 and its 200 day moving average price is $91.31. The company has a market cap of $1.66 billion, a PE ratio of 22.51 and a beta of 0.88.

Formula Systems (1985) (NASDAQ:FORTY) last issued its quarterly earnings data on Thursday, May 22nd. The technology company reported $1.23 earnings per share (EPS) for the quarter. The business had revenue of $754.68 million during the quarter. Formula Systems (1985) had a net margin of 2.78% and a return on equity of 5.68%.

Formula Systems (1985) Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Friday, August 1st. Stockholders of record on Monday, July 7th will be issued a $0.9728 dividend. The ex-dividend date is Monday, July 7th. This is a positive change from Formula Systems (1985)’s previous semi-annual dividend of $0.69. This represents a dividend yield of 1%. Formula Systems (1985)’s dividend payout ratio is currently 11.88%.

Institutional Investors Weigh In On Formula Systems (1985)

An institutional investor recently raised its position in Formula Systems (1985) stock. Altshuler Shaham Ltd boosted its stake in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 7.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,385 shares of the technology company’s stock after buying 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.

Formula Systems (1985) Company Profile

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.