Formula Systems (1985) (NASDAQ:FORTY) Cut to “Buy” at Wall Street Zen

Wall Street Zen lowered shares of Formula Systems (1985) (NASDAQ:FORTY) from a strong-buy rating to a buy rating in a research note released on Saturday.

Formula Systems (1985) Stock Up 0.6%

FORTY opened at $112.00 on Friday. The business’s 50-day simple moving average is $99.38 and its 200-day simple moving average is $94.28. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.23 and a current ratio of 1.26. Formula Systems has a one year low of $69.28 and a one year high of $113.30. The stock has a market capitalization of $1.72 billion, a P/E ratio of 21.46 and a beta of 0.93.

Formula Systems (1985) (NASDAQ:FORTY) last posted its earnings results on Thursday, May 22nd. The technology company reported $1.23 EPS for the quarter. Formula Systems (1985) had a return on equity of 6.00% and a net margin of 2.91%. The business had revenue of $754.68 million for the quarter.

Formula Systems (1985) Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Friday, August 1st. Investors of record on Monday, July 7th will be given a $0.9728 dividend. This represents a yield of 1%. The ex-dividend date of this dividend is Monday, July 7th. This is a boost from Formula Systems (1985)’s previous semi-annual dividend of $0.69. Formula Systems (1985)’s payout ratio is 27.20%.

Hedge Funds Weigh In On Formula Systems (1985)

An institutional investor recently raised its position in Formula Systems (1985) stock. Altshuler Shaham Ltd lifted its holdings in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 7.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,385 shares of the technology company’s stock after buying an additional 450 shares during the period. Altshuler Shaham Ltd’s holdings in Formula Systems (1985) were worth $536,000 at the end of the most recent reporting period. 34.76% of the stock is currently owned by institutional investors.

Formula Systems (1985) Company Profile

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.