Formula Systems (1985) (NASDAQ:FORTY) Sees Large Volume Increase – Here’s Why

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) saw strong trading volume on Wednesday . 830 shares were traded during mid-day trading, an increase of 42% from the previous session’s volume of 583 shares.The stock last traded at $118.13 and had previously closed at $121.50.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Formula Systems (1985) in a research note on Friday, March 27th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

Formula Systems (1985) Price Performance

The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 3.05 and a beta of 1.17. The business’s fifty day moving average price is $133.47 and its 200-day moving average price is $144.33. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.68 and a quick ratio of 1.66.

Formula Systems (1985) (NASDAQ:FORTY) last issued its quarterly earnings data on Thursday, May 28th. The technology company reported $2.25 earnings per share (EPS) for the quarter. The firm had revenue of $738.29 million during the quarter. Formula Systems (1985) had a net margin of 21.58% and a return on equity of 4.01%.

Formula Systems (1985) Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 22nd will be issued a dividend of $13.045 per share. The ex-dividend date is Friday, May 22nd. Formula Systems (1985)’s dividend payout ratio (DPR) is currently 27.55%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Altshuler Shaham Ltd grew its position in Formula Systems (1985) by 10.4% in the 1st quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock worth $926,000 after purchasing an additional 727 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Formula Systems (1985) by 2.7% in the 1st 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 in the last quarter. Elevation Point Wealth Partners LLC bought a new stake in Formula Systems (1985) in the 1st quarter worth about $206,000. Finally, Raymond James Financial Inc. bought a new stake in Formula Systems (1985) in the 2nd quarter worth about $73,000. 34.76% of the stock is currently owned by hedge funds and other institutional investors.

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.