Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Up – Should You Buy?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares gapped up before the market opened on Thursday . The stock had previously closed at $121.36, but opened at $129.00. Formula Systems (1985) shares last traded at $129.00, with a volume of 157 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Formula Systems (1985) in a report on Thursday, August 27th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Formula Systems (1985) Stock Up 2.6%

The company’s fifty day moving average is $111.33 and its 200-day moving average is $122.12. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.13. The company has a market cap of $1.98 billion, a PE ratio of 3.24 and a beta of 1.21.

Formula Systems (1985) (NASDAQ:FORTY) last issued its earnings results on Tuesday, August 25th. The technology company reported $1.47 earnings per share for the quarter. Formula Systems (1985) had a net margin of 21.57% and a return on equity of 4.38%. The company had revenue of $782.44 million during the quarter.

Formula Systems (1985) Announces Dividend

The business also recently announced a special dividend, which will be paid on Friday, October 16th. Investors of record on Tuesday, September 22nd will be issued a dividend of $1.63 per share. This represents a yield of 259.0%. The ex-dividend date of this dividend is Tuesday, September 22nd. Formula Systems (1985)’s dividend payout ratio (DPR) is 1.86%.

Hedge Funds Weigh In On Formula Systems (1985)

Institutional investors have recently added to or reduced their stakes in the stock. Elevation Point Wealth Partners LLC purchased a new stake in Formula Systems (1985) during the 1st quarter worth about $206,000. Altshuler Shaham Ltd increased its stake in shares of Formula Systems (1985) by 30.8% during the 4th quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company’s stock valued at $1,182,000 after acquiring an additional 1,650 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Formula Systems (1985) during the 2nd quarter worth $73,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Formula Systems (1985) by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock valued at $391,000 after buying an additional 86 shares during the last quarter. Hedge funds and other institutional investors own 34.76% of the company’s stock.

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.