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

Formula Systems (1985) Ltd. (NASDAQ:FORTY) saw an uptick in trading volume on Thursday. Approximately 3,868 shares were traded during trading, an increase of 388% from the previous session’s volume of 792 shares. The stock last traded at $113.50 and had previously closed at $114.99.

Analysts Set New Price Targets

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

Formula Systems (1985) Stock Down 1.3%

The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.44 and a current ratio of 1.48. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 2.85 and a beta of 1.21. The business’s 50 day moving average is $116.47 and its 200 day moving average is $121.88.

Formula Systems (1985) (NASDAQ:FORTY) last released its earnings results on Wednesday, August 26th. The technology company reported $1.47 earnings per share (EPS) for the quarter. Formula Systems (1985) had a return on equity of 4.38% and a net margin of 21.57%.

Formula Systems (1985) Announces Dividend

The firm also recently announced a special dividend, which will be paid on Friday, October 16th. Stockholders of record on Tuesday, September 22nd will be issued a $1.63 dividend. The ex-dividend date is Tuesday, September 22nd. Formula Systems (1985)’s dividend payout ratio is currently 4.87%.

Institutional Investors Weigh In On Formula Systems (1985)

Several large investors have recently made changes to their positions in FORTY. Altshuler Shaham Ltd boosted its holdings in Formula Systems (1985) by 10.4% in the first 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 increased 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 buying an additional 86 shares during the period. Finally, Elevation Point Wealth Partners LLC acquired a new position in Formula Systems (1985) during the 1st quarter valued at $206,000. Institutional investors own 34.76% of the company’s stock.

About Formula Systems (1985)

Formula Systems (1985) Ltd. is an Israeli information technology holding company that invests in and manages businesses providing software, technology consulting and information technology services. The company operates primarily through its subsidiaries and serves enterprises, government organizations and other institutions across a range of industries.

Its principal subsidiaries include Matrix IT, which provides information technology services, systems integration, consulting, outsourcing and cybersecurity solutions; Magic Software Enterprises, which develops application software and provides digital transformation, cloud, data and professional services; and Sapiens International, which supplies software platforms and related services for the insurance industry, including solutions for property and casualty, life and retirement insurance.

Founded in 1985, Formula Systems has expanded its activities beyond Israel through subsidiaries and operating units serving customers in North America, Europe, Israel and other international markets.