Formula Systems (1985) (NASDAQ:FORTY) Reaches New 52-Week High – What’s Next?

by · The Cerbat Gem

Formula Systems (1985) Ltd. (NASDAQ:FORTY – Get Free Report) hit a new 52-week high during trading on Wednesday . The stock traded as high as $87.50 and last traded at $87.50, with a volume of 992 shares. The stock had previously closed at $83.93.

Formula Systems (1985) Stock Down 0.9 %

The company has a debt-to-equity ratio of 0.19, a current ratio of 1.40 and a quick ratio of 1.37. The company has a market capitalization of $1.29 billion, a P/E ratio of 19.42 and a beta of 1.11. The company has a 50 day moving average of $77.82 and a 200-day moving average of $76.91.

Formula Systems (1985) (NASDAQ:FORTY – Get Free Report) last announced its quarterly earnings data on Tuesday, August 20th. The technology company reported $1.20 earnings per share for the quarter. Formula Systems (1985) had a net margin of 2.53% and a return on equity of 5.21%. The business had revenue of $667.68 million for the quarter.

Formula Systems (1985) Increases Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were paid a dividend of $0.63 per share. This is an increase from Formula Systems (1985)’s previous Semi-Annual dividend of $0.45. This represents a dividend yield of 1.2%. The ex-dividend date of this dividend was Thursday, September 12th. Formula Systems (1985)’s payout ratio is currently 20.65%.

Institutional Investors Weigh In On Formula Systems (1985)

An institutional investor recently raised its position in Formula Systems (1985) stock. Altshuler Shaham Ltd increased its holdings in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY – Free Report) by 52.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,711 shares of the technology company’s stock after purchasing an additional 2,303 shares during the quarter. Altshuler Shaham Ltd’s holdings in Formula Systems (1985) were worth $478,000 at the end of the most recent reporting period. Institutional investors own 34.76% of the company’s stock.

Formula Systems (1985) Company Profile

(Get Free Report)

Formula Systems (1985) Ltd., through its subsidiaries, provides proprietary and non-proprietary software solutions, IT professional services, software product marketing and support, computer infrastructure and integration solutions, and learning and integration worldwide. The company offers computer and telecommunication infrastructure solutions; and sells and markets computers and peripheral equipment, and cloud based solutions and services relating to databases and big data.

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