Formula Systems (1985) (NASDAQ:FORTY) Shares Break Above Two Hundred Day Moving Average – What’s Next?

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s stock price passed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $123.55 and traded as high as $127.28. Formula Systems (1985) shares last traded at $127.28, with a volume of 837 shares changing hands.

Analyst Upgrades and Downgrades

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

Formula Systems (1985) Price Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.44 and a current ratio of 1.48. The company has a 50-day simple moving average of $119.34 and a 200-day simple moving average of $123.55. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 3.20 and a beta of 1.23.

Formula Systems (1985) (NASDAQ:FORTY) last released its quarterly earnings data on Wednesday, August 26th. The technology company reported $1.47 earnings per share (EPS) for the quarter. Formula Systems (1985) had a return on equity of 4.38% and a net margin of 21.57%.

Formula Systems (1985) Dividend Announcement

The business also recently declared a special dividend, which was paid on Friday, October 16th. Stockholders of record on Tuesday, September 22nd were issued a $1.63 dividend. The ex-dividend date was Tuesday, September 22nd. Formula Systems (1985)’s dividend payout ratio (DPR) is currently 6.03%.

Institutional Trading of Formula Systems (1985)

An institutional investor recently raised its stake in Formula Systems (1985) stock. Altshuler Shaham Ltd boosted its stake in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 10.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,742 shares of the technology company’s stock after buying an additional 727 shares during the quarter. Altshuler Shaham Ltd owned 0.05% of Formula Systems (1985) worth $926,000 as of its most recent filing with the Securities and Exchange Commission. 34.76% of the stock is owned by institutional investors and hedge funds.

About Formula Systems (1985)

Formula Systems (1985) Ltd. is an Israel-based holding company focused on software and information technology services. Through its subsidiaries, it provides software development, systems integration, IT consulting and outsourcing, and business software for areas including insurance and financial services. Its principal subsidiaries include Matrix IT, Sapiens International and Magic Software Enterprises. Their offerings span technology services and digital solutions, insurance and financial software, and application development and integration platforms.