Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Up – Still a Buy?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares gapped up prior to trading on Friday . The stock had previously closed at $109.75, but opened at $113.99. Formula Systems (1985) shares last traded at $119.68, with a volume of 293 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Formula Systems (1985) presently has a consensus rating of “Hold”.

Formula Systems (1985) Stock Up 7.3%

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.68 and a quick ratio of 1.66. The company has a market cap of $1.75 billion, a PE ratio of 2.90 and a beta of 1.21. The business’s 50 day moving average is $119.45 and its 200-day moving average is $131.50.

Formula Systems (1985) (NASDAQ:FORTY) last posted its earnings results on Thursday, May 28th. The technology company reported $2.25 EPS for the quarter. Formula Systems (1985) had a return on equity of 4.01% and a net margin of 21.58%.The firm had revenue of $738.29 million for the quarter.

Formula Systems (1985) Announces Dividend

The business also recently declared a special dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 22nd were given a $13.045 dividend. The ex-dividend date of this dividend was Friday, May 22nd. Formula Systems (1985)’s payout ratio is 1.88%.

Institutional Trading of Formula Systems (1985)

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in shares of Formula Systems (1985) in the 2nd quarter valued at about $73,000. Elevation Point Wealth Partners LLC acquired a new position in Formula Systems (1985) during the first quarter worth approximately $206,000. Dimensional Fund Advisors LP increased its position in Formula Systems (1985) by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock worth $391,000 after buying an additional 86 shares during the period. Finally, Altshuler Shaham Ltd boosted its holdings in shares of Formula Systems (1985) by 10.4% in the first quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock valued at $926,000 after acquiring an additional 727 shares during the period. Institutional investors and hedge funds own 34.76% of the company’s stock.

Formula Systems (1985) Company Profile

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.