Formula Systems (1985) (NASDAQ:FORTY) Sees Strong Trading Volume – Still a Buy?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares saw strong trading volume on Monday . 545 shares changed hands during trading, an increase of 92% from the previous session’s volume of 284 shares.The stock last traded at $177.06 and had previously closed at $165.93.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Formula Systems (1985) currently has an average rating of “Hold”.

Formula Systems (1985) Stock Up 4.1%

The firm’s fifty day simple moving average is $164.84 and its 200 day simple moving average is $143.71. The company has a current ratio of 1.60, a quick ratio of 1.58 and a debt-to-equity ratio of 0.15. The company has a market cap of $2.65 billion, a price-to-earnings ratio of 38.03 and a beta of 1.06.

Formula Systems (1985) (NASDAQ:FORTY) last released its quarterly earnings data on Thursday, November 20th. The technology company reported $0.73 earnings per share (EPS) for the quarter. The business had revenue of $696.64 million during the quarter. Formula Systems (1985) had a net margin of 2.49% and a return on equity of 4.55%.

Formula Systems (1985) Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 23rd. Stockholders of record on Tuesday, December 30th will be issued a $0.5021 dividend. The ex-dividend date is Tuesday, December 30th. This represents a $2.01 dividend on an annualized basis and a dividend yield of 1.2%. Formula Systems (1985)’s dividend payout ratio is presently 31.28%.

Institutional Investors Weigh In On Formula Systems (1985)

Institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new position in Formula Systems (1985) in the second quarter valued at approximately $73,000. Elevation Point Wealth Partners LLC acquired a new position in shares of Formula Systems (1985) in the 2nd quarter valued at $222,000. CX Institutional purchased a new position in shares of Formula Systems (1985) in the 3rd quarter valued at $398,000. Finally, GHP Investment Advisors Inc. raised its stake in Formula Systems (1985) by 10.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock worth $1,082,000 after acquiring an additional 755 shares in the last quarter. Hedge funds and other institutional investors own 34.76% of the company’s stock.

About Formula Systems (1985)

Formula Systems (1985) Ltd is an Israeli publicly traded holding company specializing in the software and information technology sectors. Founded in 1985 and listed on NASDAQ under the ticker FORTY, the company focuses on acquiring, investing in and developing independent software firms. Its core mission is to foster innovation in enterprise software, cybersecurity and digital transformation solutions.

The company’s principal activities center on holding controlling and significant equity stakes in several market-leading software enterprises.