Formula Systems (1985) (NASDAQ:FORTY) Trading 6.4% Higher – Time to Buy?

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) rose 6.4% on Thursday . The stock traded as high as $165.68 and last traded at $175.64. Approximately 242 shares traded hands during trading, a decline of 14% from the average daily volume of 282 shares. The stock had previously closed at $165.00.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Formula Systems (1985) currently has an average rating of “Hold”.

Formula Systems (1985) Stock Down 3.8%

The business’s fifty day moving average is $169.33 and its two-hundred day moving average is $147.32. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of 34.97 and a beta of 1.06. The company has a quick ratio of 1.58, a current ratio of 1.60 and a debt-to-equity ratio of 0.15.

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 net margin of 2.49% and a return on equity of 4.55%. The company had revenue of $696.64 million during the quarter.

Formula Systems (1985) Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 23rd. Stockholders of record on Tuesday, December 30th were issued a $0.5021 dividend. This represents a $2.01 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Tuesday, December 30th. Formula Systems (1985)’s dividend payout ratio (DPR) is presently 32.60%.

Hedge Funds Weigh In On Formula Systems (1985)

Large investors have recently bought and sold shares of the business. Raymond James Financial Inc. purchased a new stake in Formula Systems (1985) during the 2nd quarter worth about $73,000. Elevation Point Wealth Partners LLC acquired a new position in Formula Systems (1985) in the second quarter valued at approximately $222,000. CX Institutional purchased a new position in Formula Systems (1985) in the third quarter valued at approximately $398,000. Finally, GHP Investment Advisors Inc. raised its holdings in 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 purchasing an additional 755 shares in the last quarter. 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.