Formula Systems (1985) (NASDAQ:FORTY) Reaches New 1-Year High – Should You Buy?

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s stock price reached a new 52-week high on Thursday . The company traded as high as $110.00 and last traded at $104.45, with a volume of 279 shares trading hands. The stock had previously closed at $108.50.

Formula Systems (1985) Price Performance

The firm’s fifty day simple moving average is $94.32 and its 200-day simple moving average is $92.43. The firm has a market capitalization of $1.70 billion, a PE ratio of 23.05 and a beta of 0.88. The company has a quick ratio of 1.38, a current ratio of 1.41 and a debt-to-equity ratio of 0.22.

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

Formula Systems (1985) Increases Dividend

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

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 stake in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 7.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,385 shares of the technology company’s stock after buying an additional 450 shares during the period. Altshuler Shaham Ltd’s holdings in Formula Systems (1985) were worth $536,000 as of its most recent SEC filing. 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.