Formula Systems (1985) (NASDAQ:FORTY) Posts Quarterly Earnings Results

Formula Systems (1985) (NASDAQ:FORTY) released its earnings results on Thursday. The technology company reported $2.25 EPS for the quarter, FiscalAI reports. The company had revenue of $738.29 million during the quarter. Formula Systems (1985) had a return on equity of 3.25% and a net margin of 20.89%.

Formula Systems (1985) Stock Performance

FORTY stock opened at $132.54 on Friday. The business’s 50-day moving average price is $132.61 and its two-hundred day moving average price is $146.12. The company has a current ratio of 1.63, a quick ratio of 1.61 and a debt-to-equity ratio of 0.11. The firm has a market cap of $2.03 billion, a PE ratio of 3.46 and a beta of 1.17. Formula Systems has a 1-year low of $101.21 and a 1-year high of $190.56.

Formula Systems (1985) Announces Dividend

The firm also recently announced a special dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 22nd will be issued a dividend of $13.045 per share. The ex-dividend date is Friday, May 22nd. Formula Systems (1985)’s payout ratio is currently 28.28%.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Formula Systems (1985) in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

Institutional Trading of Formula Systems (1985)

A number of institutional investors have recently modified their holdings of FORTY. Raymond James Financial Inc. bought a new stake in shares of Formula Systems (1985) in the second quarter valued at about $73,000. Altshuler Shaham Ltd lifted its holdings in shares of Formula Systems (1985) by 30.8% in the fourth quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company’s stock valued at $1,182,000 after purchasing an additional 1,650 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of Formula Systems (1985) in the first quarter valued at about $206,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Formula Systems (1985) by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock valued at $391,000 after purchasing an additional 86 shares in the last quarter. 34.76% of the stock is currently owned by institutional investors.

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.