Formula Systems (1985) (NASDAQ:FORTY) Hits New 1-Year High – What’s Next?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $158.50 and last traded at $158.50, with a volume of 923 shares trading hands. The stock had previously closed at $148.00.

Analyst Upgrades and Downgrades

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

Formula Systems (1985) Stock Performance

The business has a 50-day moving average of $143.71 and a 200 day moving average of $124.98. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.21 and a quick ratio of 1.17. The company has a market cap of $2.42 billion, a PE ratio of 31.82 and a beta of 0.94.

Formula Systems (1985) (NASDAQ:FORTY) last issued its quarterly earnings data on Tuesday, August 19th. The technology company reported $0.95 earnings per share for the quarter. The firm had revenue of $743.37 million for the quarter. Formula Systems (1985) had a net margin of 2.70% and a return on equity of 5.58%.

Formula Systems (1985) Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Investors of record on Tuesday, October 14th were paid a dividend of $0.505 per share. The ex-dividend date was Tuesday, October 14th. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.3%. Formula Systems (1985)’s payout ratio is 29.58%.

Institutional Trading of Formula Systems (1985)

Institutional investors and hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in shares of Formula Systems (1985) in the second quarter valued at $73,000. Elevation Point Wealth Partners LLC bought a new stake in Formula Systems (1985) in the second quarter worth about $222,000. CX Institutional purchased a new position in shares of Formula Systems (1985) during the third quarter valued at approximately $398,000. Finally, GHP Investment Advisors Inc. grew its position in Formula Systems (1985) by 10.8% in the 3rd 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 last quarter. 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.