Formula Systems (1985) (NASDAQ:FORTY) Trading Up 6.8% – What’s Next?

by · The Markets Daily

Formula Systems (1985) Ltd. (NASDAQ:FORTY – Get Free Report)’s stock price shot up 6.8% during trading on Wednesday . The stock traded as high as $168.90 and last traded at $170.9460. 187 shares traded hands during mid-day trading, a decline of 36% from the average session volume of 292 shares. The stock had previously closed at $160.00.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Monday. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold”.

Get Our Latest Analysis on Formula Systems (1985)

Formula Systems (1985) Price Performance

The company has a quick ratio of 1.58, a current ratio of 1.60 and a debt-to-equity ratio of 0.15. The company has a market cap of $2.76 billion, a price-to-earnings ratio of 39.65 and a beta of 1.07. The stock’s 50-day simple moving average is $152.29 and its 200 day simple moving average is $133.53.

Formula Systems (1985) (NASDAQ:FORTY – Get Free Report) last released its quarterly earnings results on Thursday, November 20th. The technology company reported $0.73 earnings per share (EPS) for the quarter. The business had revenue of $696.64 million for the quarter. Formula Systems (1985) had a net margin of 2.49% and a return on equity of 4.55%.

Formula Systems (1985) Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Tuesday, December 30th will be issued a dividend of $0.5021 per share. This represents a $2.01 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Tuesday, December 30th. Formula Systems (1985)’s dividend payout ratio (DPR) is 32.60%.

Institutional Trading of Formula Systems (1985)

Hedge funds have recently made changes to their positions in the business. GHP Investment Advisors Inc. grew its holdings in shares of Formula Systems (1985) by 10.8% in the third quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock valued at $1,082,000 after purchasing an additional 755 shares in the last quarter. CX Institutional purchased a new position in Formula Systems (1985) in the 3rd quarter valued at approximately $398,000. Elevation Point Wealth Partners LLC purchased a new position in Formula Systems (1985) in the 2nd quarter valued at approximately $222,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Formula Systems (1985) in the second quarter worth $73,000. Institutional investors and hedge funds 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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