Field & Main Bank Makes New $3.07 Million Investment in Formula Systems (1985) Ltd. $FORTY

Field & Main Bank bought a new stake in Formula Systems (1985) Ltd. (NASDAQ:FORTY) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 20,960 shares of the technology company’s stock, valued at approximately $3,072,000. Field & Main Bank owned 0.14% of Formula Systems (1985) as of its most recent SEC filing.

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

Formula Systems (1985) Price Performance

FORTY stock opened at $125.72 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.66 and a current ratio of 1.48. The firm has a 50 day moving average price of $110.22 and a 200-day moving average price of $122.29. Formula Systems has a 52-week low of $102.01 and a 52-week high of $190.56. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 3.16 and a beta of 1.20.

Formula Systems (1985) (NASDAQ:FORTY) last posted its quarterly earnings results on Tuesday, August 25th. The technology company reported $1.47 earnings per share for the quarter. Formula Systems (1985) had a return on equity of 4.38% and a net margin of 21.57%.The company had revenue of $782.44 million for the quarter.

Formula Systems (1985) Dividend Announcement

The business also recently announced a special dividend, which will be paid on Friday, October 16th. Shareholders of record on Tuesday, September 22nd will be issued a $1.63 dividend. This represents a yield of 259.0%. The ex-dividend date of this dividend is Tuesday, September 22nd. Formula Systems (1985)’s payout ratio is 5.93%.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Thursday. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold”.

Formula Systems (1985) 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.