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

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s stock price reached a new 52-week high on Monday . The company traded as high as $112.95 and last traded at $101.80, with a volume of 293 shares traded. The stock had previously closed at $102.00.

Formula Systems (1985) Stock Performance

The company has a market cap of $1.69 billion, a price-to-earnings ratio of 22.90 and a beta of 0.93. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.41. The stock’s fifty day simple moving average is $96.34 and its two-hundred day simple moving average is $93.37.

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

Formula Systems (1985) Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Friday, August 1st. Shareholders of record on Monday, July 7th will be paid a dividend of $0.9728 per share. This represents a yield of 1%. 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. Formula Systems (1985)’s dividend payout ratio (DPR) is 11.88%.

Institutional Trading of Formula Systems (1985)

An institutional investor recently raised its position in Formula Systems (1985) stock. Altshuler Shaham Ltd boosted its holdings in Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 7.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (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 at the end of the most recent quarter. 34.76% of the stock is currently owned by 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.