Formula Systems (1985) (NASDAQ:FORTY) Sees Large Volume Increase – Here’s What Happened

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) saw unusually-high trading volume on Thursday . Approximately 836 shares changed hands during trading, an increase of 250% from the previous session’s volume of 239 shares.The stock last traded at $177.9350 and had previously closed at $168.90.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Formula Systems (1985) in a research note on Monday. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

Formula Systems (1985) Stock Performance

The stock’s fifty day moving average is $155.27 and its two-hundred day moving average is $135.80. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.58 and a current ratio of 1.60. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 39.19 and a beta of 1.07.

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

Formula Systems (1985) Cuts Dividend

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

Institutional Investors Weigh In On Formula Systems (1985)

Institutional investors have recently made changes to their positions in the stock. Elevation Point Wealth Partners LLC bought a new position in Formula Systems (1985) during the second quarter worth about $222,000. Raymond James Financial Inc. bought a new position in Formula Systems (1985) during the 2nd quarter worth about $73,000. GHP Investment Advisors Inc. grew its holdings in shares of Formula Systems (1985) by 10.8% during the third quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock worth $1,082,000 after buying an additional 755 shares in the last quarter. Finally, CX Institutional acquired a new stake in shares of Formula Systems (1985) in the third quarter valued at approximately $398,000. 34.76% of the stock is owned by institutional investors and hedge funds.

About Formula Systems (1985)

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.