Formula Systems (1985) (NASDAQ:FORTY) Sees Large Volume Increase – Still a Buy?

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) saw strong trading volume on Wednesday . 1,572 shares traded hands during trading, an increase of 393% from the previous session’s volume of 319 shares.The stock last traded at $167.7150 and had previously closed at $149.75.

Wall Street Analysts Forecast Growth

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

Formula Systems (1985) Trading Up 11.6%

The firm has a fifty day moving average of $147.23 and a two-hundred day moving average of $130.56. The company has a market cap of $2.56 billion, a PE ratio of 36.83 and a beta of 1.07. The company has a current ratio of 1.60, a quick ratio of 1.58 and a debt-to-equity ratio of 0.15.

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

Formula Systems (1985) Cuts Dividend

The business also recently announced 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. This represents a $2.01 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, December 30th. Formula Systems (1985)’s payout ratio is presently 32.60%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Elevation Point Wealth Partners LLC bought a new position in Formula Systems (1985) in the 2nd quarter worth about $222,000. Raymond James Financial Inc. bought a new position in shares of Formula Systems (1985) during the 2nd quarter valued at $73,000. CX Institutional purchased a new position in shares of Formula Systems (1985) in the third quarter worth about $398,000. Finally, GHP Investment Advisors Inc. increased its holdings in shares of Formula Systems (1985) by 10.8% in the third quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock worth $1,082,000 after buying an additional 755 shares during the period. Institutional investors own 34.76% of the company’s stock.

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.