Formula Systems (1985) (NASDAQ:FORTY) Sees Unusually-High Trading Volume – Here’s What Happened

Formula Systems (1985) Ltd. (NASDAQ:FORTY) saw unusually-high trading volume on Tuesday . Approximately 367 shares were traded during trading, an increase of 54% from the previous session’s volume of 238 shares.The stock last traded at $164.66 and had previously closed at $170.00.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Formula Systems (1985) in a report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Formula Systems (1985) Stock Up 1.1%

The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 37.84 and a beta of 1.06. The company has a current ratio of 1.60, a quick ratio of 1.58 and a debt-to-equity ratio of 0.15. The firm’s 50 day simple moving average is $167.59 and its 200-day simple moving average is $145.52.

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

Formula Systems (1985) Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 23rd. Shareholders of record on Tuesday, December 30th will be given a dividend of $0.5021 per share. The ex-dividend date is Tuesday, December 30th. This represents a $2.01 annualized dividend and a yield of 1.2%. Formula Systems (1985)’s payout ratio is presently 32.60%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Elevation Point Wealth Partners LLC purchased a new position in Formula Systems (1985) in the second quarter worth $222,000. Raymond James Financial Inc. acquired a new position in shares of Formula Systems (1985) during the 2nd quarter worth $73,000. GHP Investment Advisors Inc. grew its stake 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 worth $1,082,000 after purchasing an additional 755 shares during the period. Finally, CX Institutional purchased a new position in shares of Formula Systems (1985) in the 3rd quarter valued at about $398,000. Institutional investors and hedge funds 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.