Formula Systems (1985) (NASDAQ:FORTY) Stock Price Up 8.7% – Still a Buy?

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s stock price was up 8.7% on Tuesday. The stock traded as high as $127.28 and last traded at $127.28. 807 shares changed hands during trading, a decline of 4% from the average daily volume of 838 shares. The stock had previously closed at $117.05.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Formula Systems (1985) in a report on Thursday, August 27th. One investment analyst has rated the stock with a Hold rating. Based on data from MarketBeat, Formula Systems (1985) presently has an average rating of “Hold”.

Formula Systems (1985) Price Performance

The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of 3.20 and a beta of 1.23. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average price is $119.31 and its two-hundred day moving average price is $123.74.

Formula Systems (1985) (NASDAQ:FORTY) last issued its earnings results on Wednesday, August 26th. The technology company reported $1.47 EPS for the quarter. Formula Systems (1985) had a return on equity of 4.38% and a net margin of 21.57%.

Formula Systems (1985) Announces Dividend

The company also recently declared a special dividend, which was paid on Friday, October 16th. Investors of record on Tuesday, September 22nd were paid a $1.63 dividend. The ex-dividend date of this dividend was Tuesday, September 22nd. Formula Systems (1985)’s payout ratio is presently 6.03%.

Hedge Funds Weigh In On Formula Systems (1985)

An institutional investor recently raised its stake in Formula Systems (1985) stock. Altshuler Shaham Ltd raised its holdings in Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 10.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,742 shares of the technology company’s stock after acquiring an additional 727 shares during the quarter. Altshuler Shaham Ltd owned about 0.05% of Formula Systems (1985) worth $926,000 at the end of the most recent 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 Israel-based holding company focused on software and information technology services. Through its subsidiaries, it provides software development, systems integration, IT consulting and outsourcing, and business software for areas including insurance and financial services. Its principal subsidiaries include Matrix IT, Sapiens International and Magic Software Enterprises. Their offerings span technology services and digital solutions, insurance and financial software, and application development and integration platforms.