Formula Systems (1985) Ltd. (NASDAQ:FORTY) Sees Significant Decline in Short Interest

Formula Systems (1985) Ltd. (NASDAQ:FORTY) was the recipient of a large decrease in short interest during the month of June. As of June 30th, there was short interest totaling 323 shares, a decrease of 46.0% from the June 15th total of 598 shares. Based on an average daily volume of 460 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.0% of the shares of the company are short sold.

Formula Systems (1985) Price Performance

Shares of Formula Systems (1985) stock opened at $111.03 on Wednesday. The stock has a market cap of $1.70 billion, a P/E ratio of 2.82 and a beta of 1.21. 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 stock’s fifty day moving average is $124.69 and its 200 day moving average is $134.87. Formula Systems has a one year low of $102.01 and a one year high of $190.56.

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

Formula Systems (1985) Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 22nd were paid a dividend of $13.045 per share. The ex-dividend date was Friday, May 22nd. Formula Systems (1985)’s payout ratio is 1.88%.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Formula Systems (1985) in a report on Friday, March 27th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, Formula Systems (1985) currently has an average rating of “Hold”.

Institutional Investors Weigh In On Formula Systems (1985)

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FORTY. Altshuler Shaham Ltd lifted its holdings in Formula Systems (1985) by 10.4% during the first quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock valued at $926,000 after purchasing an additional 727 shares in the last quarter. Dimensional Fund Advisors LP increased 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 purchasing an additional 86 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of Formula Systems (1985) during the 1st quarter valued at $206,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Formula Systems (1985) during the 2nd quarter valued at $73,000. 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.