Formula Systems (1985) (NASDAQ:FORTY) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $119.21 and traded as high as $148.00. Formula Systems (1985) shares last traded at $152.00, with a volume of 334 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Formula Systems (1985) in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Formula Systems (1985) has a consensus rating of “Hold”.

Formula Systems (1985) Stock Up 7.2%

The company has a current ratio of 1.21, a quick ratio of 1.17 and a debt-to-equity ratio of 0.17. The firm has a market cap of $2.33 billion, a P/E ratio of 30.58 and a beta of 0.90. The company’s 50 day simple moving average is $137.82 and its 200-day simple moving average is $119.21.

Formula Systems (1985) (NASDAQ:FORTY) last posted its earnings results on Tuesday, August 19th. The technology company reported $0.95 earnings per share (EPS) for the quarter. The business had revenue of $743.37 million for the quarter. Formula Systems (1985) had a net margin of 2.70% and a return on equity of 5.58%.

Formula Systems (1985) Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Tuesday, October 14th will be given a dividend of $0.505 per share. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $2.02 annualized dividend and a dividend yield of 1.3%. Formula Systems (1985)’s dividend payout ratio is presently 28.77%.

Institutional Investors Weigh In On Formula Systems (1985)

Several hedge funds and other institutional investors have recently made changes to their positions in FORTY. Raymond James Financial Inc. purchased a new stake in shares of Formula Systems (1985) during the 2nd quarter valued at about $73,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Formula Systems (1985) during the 2nd quarter valued at about $222,000. Finally, CX Institutional purchased a new stake in shares of Formula Systems (1985) during the 3rd quarter valued at about $398,000. 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.