Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Up – What’s Next?

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) gapped up prior to trading on Monday . The stock had previously closed at $122.61, but opened at $128.49. Formula Systems (1985) shares last traded at $119.88, with a volume of 550 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Formula Systems (1985) in a research note on Thursday, August 27th. One 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) Trading Down 2.0%

The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 3.05 and a beta of 1.21. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average price is $114.97 and its two-hundred day moving average price is $122.51.

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

Formula Systems (1985) Announces Dividend

The business also recently declared a special dividend, which will be paid on Friday, October 16th. Stockholders of record on Tuesday, September 22nd will be issued a dividend of $1.63 per share. The ex-dividend date is Tuesday, September 22nd. This represents a dividend yield of 259.0%. Formula Systems (1985)’s dividend payout ratio is 1.86%.

Institutional Investors Weigh In On Formula Systems (1985)

Several hedge funds have recently modified their holdings of the company. Elevation Point Wealth Partners LLC acquired a new position in Formula Systems (1985) in the 1st quarter worth about $206,000. Dimensional Fund Advisors LP boosted its stake in shares of 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 valued at $391,000 after purchasing an additional 86 shares in the last quarter. Finally, Altshuler Shaham Ltd boosted its stake in shares of Formula Systems (1985) by 30.8% during the fourth quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company’s stock valued at $1,182,000 after purchasing an additional 1,650 shares in the last quarter. 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 information technology holding company that invests in and manages businesses providing software, technology consulting and information technology services. The company operates primarily through its subsidiaries and serves enterprises, government organizations and other institutions across a range of industries.

Its principal subsidiaries include Matrix IT, which provides information technology services, systems integration, consulting, outsourcing and cybersecurity solutions; Magic Software Enterprises, which develops application software and provides digital transformation, cloud, data and professional services; and Sapiens International, which supplies software platforms and related services for the insurance industry, including solutions for property and casualty, life and retirement insurance.

Founded in 1985, Formula Systems has expanded its activities beyond Israel through subsidiaries and operating units serving customers in North America, Europe, Israel and other international markets.