Formula Systems (1985) (NASDAQ:FORTY) Sees Strong Trading Volume – What’s Next?

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) saw unusually-high trading volume on Tuesday . Approximately 668 shares were traded during trading, an increase of 142% from the previous session’s volume of 276 shares.The stock last traded at $166.46 and had previously closed at $190.56.

Analyst Ratings Changes

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

Formula Systems (1985) Price Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.58 and a current ratio of 1.60. The company has a market cap of $2.56 billion, a price-to-earnings ratio of 37.11 and a beta of 1.06. The business has a fifty day moving average price of $163.97 and a 200 day moving average price of $142.78.

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

Formula Systems (1985) Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Tuesday, December 30th will be paid a $0.5021 dividend. The ex-dividend date of this dividend is Tuesday, December 30th. This represents a $2.01 annualized dividend and a yield of 1.2%. Formula Systems (1985)’s dividend payout ratio is presently 31.50%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. GHP Investment Advisors Inc. boosted its holdings in shares of 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 valued at $1,082,000 after acquiring an additional 755 shares in the last quarter. CX Institutional acquired a new stake in shares of Formula Systems (1985) during the third quarter valued at about $398,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Formula Systems (1985) during the second quarter worth about $222,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Formula Systems (1985) during the second quarter worth about $73,000. 34.76% of the stock is currently owned by institutional investors and hedge funds.

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.