Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Up Following Dividend Announcement

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) gapped up prior to trading on Tuesday following a dividend announcement from the company. The stock had previously closed at $149.75, but opened at $160.00. Formula Systems (1985) shares last traded at $164.3260, with a volume of 1,572 shares traded.

The newly announced dividend which will be paid on Friday, January 23rd. Stockholders of record on Tuesday, December 30th will be given a dividend of $0.5021 per share. The ex-dividend date is Tuesday, December 30th. This represents a $2.01 dividend on an annualized basis and a dividend yield of 1.2%. Formula Systems (1985)’s payout ratio is currently 31.28%.

Analyst Upgrades and Downgrades

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

Formula Systems (1985) Stock Up 4.6%

The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of 36.86 and a beta of 1.07. The business has a fifty day simple moving average of $147.84 and a two-hundred day simple moving average of $130.82. The company has a quick ratio of 1.58, a current ratio of 1.60 and a debt-to-equity ratio of 0.15.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new position in Formula Systems (1985) during the 2nd quarter worth $73,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Formula Systems (1985) in the 2nd quarter valued at $222,000. CX Institutional bought a new stake in shares of Formula Systems (1985) during the third quarter worth $398,000. Finally, GHP Investment Advisors Inc. lifted its stake in shares of Formula Systems (1985) by 10.8% during the third quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock valued at $1,082,000 after acquiring an additional 755 shares during the period. Institutional investors and hedge funds 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.