Formula Systems (1985) (NASDAQ:FORTY) Sees Strong Trading Volume – What’s Next?

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) saw unusually-high trading volume on Friday. Approximately 4,724 shares were traded during mid-day trading, an increase of 659% from the previous session’s volume of 622 shares. The stock last traded at $115.00 and had previously closed at $119.20.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Thursday, August 27th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Formula Systems (1985) has a consensus rating of “Hold”.

Formula Systems (1985) Stock Up 0.9%

The firm’s fifty day moving average price is $115.94 and its 200-day moving average price is $122.22. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.48 and a quick ratio of 1.44. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 2.89 and a beta of 1.21.

Formula Systems (1985) (NASDAQ:FORTY) last issued its earnings results on Wednesday, August 26th. The technology company reported $1.47 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) Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FORTY. Altshuler Shaham Ltd boosted its holdings in shares of Formula Systems (1985) by 10.4% during the 1st quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock valued at $926,000 after acquiring an additional 727 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Formula Systems (1985) by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock worth $391,000 after acquiring an additional 86 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new stake in shares of Formula Systems (1985) in the 1st quarter worth $206,000. 34.76% of the stock is owned by hedge funds and other institutional investors.

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.