Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Up – Time to Buy?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) gapped up before the market opened on Tuesday . The stock had previously closed at $107.00, but opened at $113.00. Formula Systems (1985) shares last traded at $113.00, with a volume of 939 shares trading hands.

Analyst Ratings Changes

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

Formula Systems (1985) Stock Up 4.1%

The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 2.87 and a beta of 1.21. The stock has a 50 day moving average of $127.67 and a 200 day moving average of $137.67. The company has a quick ratio of 1.66, a current ratio of 1.68 and a debt-to-equity ratio of 0.12.

Formula Systems (1985) (NASDAQ:FORTY) last announced its quarterly earnings data 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 $738.28 million for the quarter.

Formula Systems (1985) Announces Dividend

The company also recently declared a special dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 22nd were issued a $13.045 dividend. The ex-dividend date was Friday, May 22nd. Formula Systems (1985)’s payout ratio is 2.72%.

Hedge Funds Weigh In On Formula Systems (1985)

Large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in 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 period. Raymond James Financial Inc. acquired a new position in Formula Systems (1985) in the second quarter valued at approximately $73,000. Altshuler Shaham Ltd grew its holdings 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 valued at $926,000 after purchasing an additional 727 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of Formula Systems (1985) during the first quarter valued at approximately $206,000. 34.76% of the stock is currently owned by 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.