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

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) saw unusually-high trading volume on Tuesday . Approximately 323 shares changed hands during trading, a decline of 47% from the previous session’s volume of 609 shares.The stock last traded at $117.65 and had previously closed at $121.50.

Analyst Ratings Changes

Separately, Weiss Ratings restated 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, According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Formula Systems (1985) Stock Up 0.1%

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.68 and a quick ratio of 1.66. The company’s 50-day simple moving average is $133.18 and its 200 day simple moving average is $143.81. The firm has a market cap of $1.80 billion, a P/E ratio of 2.99 and a beta of 1.17.

Formula Systems (1985) (NASDAQ:FORTY) last released its quarterly earnings data on Thursday, May 28th. The technology company reported $2.25 EPS for the quarter. Formula Systems (1985) had a net margin of 21.58% and a return on equity of 4.01%. The business had revenue of $738.29 million during the quarter.

Formula Systems (1985) Announces Dividend

The business also recently declared a special dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 22nd were paid a $13.045 dividend. The ex-dividend date of this dividend was Friday, May 22nd. Formula Systems (1985)’s dividend payout ratio (DPR) is currently 27.55%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd increased its stake in Formula Systems (1985) by 10.4% in the 1st quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock worth $926,000 after buying an additional 727 shares during the period. Dimensional Fund Advisors LP grew its holdings in Formula Systems (1985) by 2.7% during 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 in the last quarter. Raymond James Financial Inc. purchased a new position in Formula Systems (1985) during the 2nd quarter valued at about $73,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in Formula Systems (1985) during the 1st quarter valued at about $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 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.