Formula Systems (1985) (NASDAQ:FORTY) Sees Strong Trading Volume – Still a Buy?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares saw unusually-high trading volume on Thursday. Approximately 4,297 shares changed hands during trading, an increase of 452% from the average daily volume of 779 shares. The stock last traded at $122.30 and had previously closed at $127.99.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Formula Systems (1985) in a research note on Thursday, August 27th. One equities research 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) Price Performance

The firm’s fifty day simple moving average is $119.84 and its 200-day simple moving average is $125.33. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $1.87 billion, a PE ratio of 3.06 and a beta of 1.25.

Formula Systems (1985) (NASDAQ:FORTY) last posted its quarterly earnings data on Wednesday, August 26th. The technology company reported $1.47 earnings per share (EPS) for the quarter. Formula Systems (1985) had a net margin of 21.57% and a return on equity of 4.38%.

Formula Systems (1985) Dividend Announcement

The business also recently announced a special dividend, which was paid on Friday, October 16th. Stockholders of record on Tuesday, September 22nd were issued a $1.63 dividend. The ex-dividend date was Tuesday, September 22nd. Formula Systems (1985)’s payout ratio is 6.03%.

Institutional Investors Weigh In On Formula Systems (1985)

Several hedge funds and other institutional investors have recently made changes to their positions in FORTY. Altshuler Shaham Ltd lifted its stake 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 worth $926,000 after acquiring an additional 727 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Formula Systems (1985) by 2.7% during 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 during the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new stake in shares of Formula Systems (1985) during the first quarter valued at $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 Israel-based holding company that invests in and manages technology businesses. Established in 1985, the company focuses primarily on software, information technology services and technology-enabled business solutions through its principal operating subsidiaries.

Formula Systems’ portfolio includes Matrix IT, an Israeli provider of systems integration, consulting, outsourcing, cloud, cybersecurity and other information technology services; Magic Software Enterprises, which provides software development, digital transformation, cloud, data and application integration services; and Sapiens International, a provider of software platforms and solutions for the insurance, financial services and retirement markets.

Through these businesses, Formula Systems serves customers in Israel and international markets, including North America, Europe and the Asia-Pacific region.