Formula Systems (1985) (NASDAQ:FORTY) Sees Unusually-High Trading Volume – Still a Buy?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) saw an uptick in trading volume on Tuesday . 323 shares changed hands during trading, a decline of 47% from the previous session’s volume of 609 shares.The stock last traded at $117.65 and had previously closed at $121.50.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Friday, March 27th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Formula Systems (1985) Stock Performance

The business’s 50 day simple moving average is $133.18 and its two-hundred day simple moving average is $143.81. The firm has a market capitalization of $1.80 billion, a P/E ratio of 2.99 and a beta of 1.17. The company has a current ratio of 1.68, a quick ratio of 1.66 and a debt-to-equity ratio of 0.12.

Formula Systems (1985) (NASDAQ:FORTY) last released its quarterly earnings results on Thursday, May 28th. The technology company reported $2.25 earnings per share (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) Dividend Announcement

The company also recently declared a special dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 22nd were given a $13.045 dividend. The ex-dividend date was Friday, May 22nd. Formula Systems (1985)’s dividend payout ratio is presently 27.55%.

Hedge Funds Weigh In On Formula Systems (1985)

Hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. bought a new position in shares of Formula Systems (1985) during the second quarter worth $73,000. Elevation Point Wealth Partners LLC bought a new position in shares of Formula Systems (1985) during the first quarter worth $206,000. Dimensional Fund Advisors LP boosted its position 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 worth $391,000 after acquiring an additional 86 shares during the last quarter. Finally, Altshuler Shaham Ltd boosted its position in shares of Formula Systems (1985) by 10.4% during the first quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock worth $926,000 after acquiring an additional 727 shares during the last quarter. Institutional investors own 34.76% of the company’s stock.

About Formula Systems (1985)

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.