Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Up – Should You Buy?

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $160.00, but opened at $168.90. Formula Systems (1985) shares last traded at $170.8510, with a volume of 187 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Formula Systems (1985) in a research note on Monday, December 1st. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Formula Systems (1985) Trading Up 4.6%

The stock has a market cap of $2.57 billion, a PE ratio of 36.86 and a beta of 1.07. The company’s 50-day moving average price is $149.20 and its 200 day moving average price is $131.93. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.58 and a current ratio of 1.60.

Formula Systems (1985) (NASDAQ:FORTY) last issued its quarterly earnings data on Thursday, November 20th. The technology company reported $0.73 earnings per share for the quarter. Formula Systems (1985) had a return on equity of 4.55% and a net margin of 2.49%.The company had revenue of $696.64 million during the quarter.

Formula Systems (1985) Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 13th. Investors of record on Tuesday, December 30th will be issued a $0.5021 dividend. This represents a $2.01 annualized dividend and a yield of 1.2%. The ex-dividend date is Tuesday, December 30th. Formula Systems (1985)’s payout ratio is 32.60%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FORTY. CX Institutional acquired a new stake in Formula Systems (1985) in the 3rd quarter valued at approximately $398,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Formula Systems (1985) during the second quarter worth $222,000. GHP Investment Advisors Inc. grew its stake in shares of Formula Systems (1985) by 10.8% in the third quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock valued at $1,082,000 after buying an additional 755 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Formula Systems (1985) in the 2nd quarter valued at $73,000. Hedge funds and other institutional investors own 34.76% of the company’s stock.

About Formula Systems (1985)

Formula Systems (1985) Ltd., through its subsidiaries, provides proprietary and non-proprietary software solutions, IT professional services, software product marketing and support, computer infrastructure and integration solutions, and learning and integration worldwide. The company offers computer and telecommunication infrastructure solutions; and sells and markets computers and peripheral equipment, and cloud based solutions and services relating to databases and big data.