Formula Systems (1985) (NASDAQ:FORTY) Sees Large Volume Increase – Time to Buy?

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) saw strong trading volume on Wednesday . 830 shares traded hands during trading, an increase of 42% from the previous session’s volume of 583 shares.The stock last traded at $118.13 and had previously closed at $121.50.

Analyst Ratings Changes

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

Formula Systems (1985) Price Performance

The company has a current ratio of 1.68, a quick ratio of 1.66 and a debt-to-equity ratio of 0.12. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 2.99 and a beta of 1.17. The stock has a 50-day moving average price of $133.18 and a two-hundred day moving average price of $144.78.

Formula Systems (1985) (NASDAQ:FORTY) last posted its quarterly earnings data on Thursday, May 28th. The technology company reported $2.25 earnings per share for the quarter. The firm had revenue of $738.29 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) Announces Dividend

The firm also recently disclosed a special dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 22nd will be given a $13.045 dividend. The ex-dividend date of this dividend is Friday, May 22nd. Formula Systems (1985)’s dividend payout ratio (DPR) is presently 27.55%.

Institutional Trading of Formula Systems (1985)

A number of institutional investors have recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new position in Formula Systems (1985) in the 2nd quarter worth $73,000. Elevation Point Wealth Partners LLC purchased a new position in Formula Systems (1985) in the 1st quarter worth $206,000. Dimensional Fund Advisors LP raised its stake in Formula Systems (1985) by 2.7% in 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, Altshuler Shaham Ltd raised its stake in Formula Systems (1985) by 30.8% in the 4th quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company’s stock worth $1,182,000 after acquiring an additional 1,650 shares during the last quarter. Institutional investors and hedge funds own 34.76% of the company’s stock.

About Formula Systems (1985)

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.