Formula Systems (1985) (NASDAQ:FORTY) Sees Strong Trading Volume – Should You Buy?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) saw strong trading volume on Wednesday . Approximately 531 shares were traded during trading, a decline of 13% from the previous session’s volume of 612 shares.The stock last traded at $110.72 and had previously closed at $108.53.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Formula Systems (1985) in a research note on Friday, March 27th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Formula Systems (1985) presently has an average rating of “Hold”.

Formula Systems (1985) Stock Performance

The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.66 and a current ratio of 1.68. The company has a market cap of $1.70 billion, a price-to-earnings ratio of 2.82 and a beta of 1.21. The company’s fifty day moving average is $126.17 and its two-hundred day moving average is $136.29.

Formula Systems (1985) (NASDAQ:FORTY) last announced its quarterly earnings data on Thursday, May 28th. The technology company reported $2.25 EPS for the quarter. The business had revenue of $738.28 million during the quarter. Formula Systems (1985) had a net margin of 21.58% and a return on equity of 4.01%.

Formula Systems (1985) Announces Dividend

The firm also recently declared a special dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 22nd were issued a $13.045 dividend. The ex-dividend date of this dividend was Friday, May 22nd. Formula Systems (1985)’s dividend payout ratio is presently 1.88%.

Hedge Funds Weigh In On Formula Systems (1985)

A number of institutional investors have recently modified their holdings of FORTY. Dimensional Fund Advisors LP boosted its stake in shares of Formula Systems (1985) by 2.7% in the first 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 last quarter. Raymond James Financial Inc. acquired a new position in Formula Systems (1985) in the second quarter valued at approximately $73,000. Altshuler Shaham Ltd boosted its position in Formula Systems (1985) by 10.4% in the 1st 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. Finally, Elevation Point Wealth Partners LLC acquired a new stake in shares of Formula Systems (1985) during the 1st quarter worth approximately $206,000. 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.