Formula Systems (1985) (NASDAQ:FORTY) Sees Strong Trading Volume – Here’s What Happened

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares saw unusually-strong trading volume on Wednesday . Approximately 402 shares traded hands during mid-day trading, an increase of 46% from the previous session’s volume of 276 shares.The stock last traded at $176.8250 and had previously closed at $184.16.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Formula Systems (1985) in a research note on Monday. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Formula Systems (1985) Stock Performance

The company has a fifty day moving average price of $157.14 and a two-hundred day moving average price of $137.89. The company has a market capitalization of $2.86 billion, a P/E ratio of 41.16 and a beta of 1.07. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.60 and a quick ratio of 1.58.

Formula Systems (1985) (NASDAQ:FORTY) last posted its earnings results 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 for the quarter.

Formula Systems (1985) Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Tuesday, December 30th will be issued a $0.5021 dividend. This represents a $2.01 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Tuesday, December 30th. Formula Systems (1985)’s dividend payout ratio is presently 32.60%.

Institutional Investors Weigh In On Formula Systems (1985)

A number of institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new position in shares of Formula Systems (1985) during the second quarter worth about $73,000. Elevation Point Wealth Partners LLC bought a new position in Formula Systems (1985) during the 2nd quarter worth approximately $222,000. CX Institutional acquired a new position in shares of Formula Systems (1985) in the 3rd quarter worth approximately $398,000. Finally, GHP Investment Advisors Inc. boosted its stake in shares of 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 purchasing an additional 755 shares during the last quarter. 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.