Formula Systems (1985) (NASDAQ:FORTY) Sees Large Volume Increase – Here’s Why

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) saw unusually-high trading volume on Tuesday . Approximately 668 shares were traded during trading, an increase of 142% from the previous session’s volume of 276 shares.The stock last traded at $166.46 and had previously closed at $190.56.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Formula Systems (1985) in a report on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Formula Systems (1985) Stock Performance

The firm’s fifty day moving average price is $162.97 and its 200-day moving average price is $142.21. The company has a current ratio of 1.60, a quick ratio of 1.58 and a debt-to-equity ratio of 0.15. The company has a market cap of $2.55 billion, a P/E ratio of 36.67 and a beta of 1.07.

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

Formula Systems (1985) Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 23rd. Shareholders of record on Tuesday, December 30th will be issued a dividend of $0.5021 per share. The ex-dividend date of this dividend is Tuesday, December 30th. This represents a $2.01 annualized dividend and a yield of 1.2%. Formula Systems (1985)’s dividend payout ratio is currently 31.28%.

Institutional Investors Weigh In On Formula Systems (1985)

A number of institutional investors and hedge funds have recently made changes to their positions in FORTY. CX Institutional bought a new stake in shares of Formula Systems (1985) during the third quarter worth approximately $398,000. Elevation Point Wealth Partners LLC acquired a new position in shares of Formula Systems (1985) during the 2nd quarter worth about $222,000. GHP Investment Advisors Inc. increased its position in shares of Formula Systems (1985) by 10.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock worth $1,082,000 after purchasing an additional 755 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Formula Systems (1985) during the second quarter worth $73,000. Institutional investors 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.