Formula Systems (1985) (NASDAQ:FORTY) Sees Unusually-High Trading Volume – Still a Buy?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares saw unusually-high trading volume on Tuesday . Approximately 668 shares traded hands during mid-day trading, an increase of 126% from the previous session’s volume of 296 shares.The stock last traded at $169.1780 and had previously closed at $190.56.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Formula Systems (1985) in a report on Monday, December 22nd. One equities research 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) Trading Down 8.5%

The company has a quick ratio of 1.58, a current ratio of 1.60 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average price of $160.09 and a 200 day moving average price of $139.97. The stock has a market capitalization of $2.67 billion, a PE ratio of 38.39 and a beta of 1.07.

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

Formula Systems (1985) Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Tuesday, December 30th will be given a dividend of $0.5021 per share. This represents a $2.01 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, December 30th. Formula Systems (1985)’s dividend payout ratio (DPR) is presently 32.60%.

Institutional Investors Weigh In On Formula Systems (1985)

Several institutional investors and hedge funds have recently added to or reduced their stakes in FORTY. Raymond James Financial Inc. purchased a new position in shares of Formula Systems (1985) in the 2nd quarter worth approximately $73,000. GHP Investment Advisors Inc. lifted its holdings in Formula Systems (1985) by 10.8% during the third quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock worth $1,082,000 after acquiring an additional 755 shares during the period. Elevation Point Wealth Partners LLC purchased a new position in Formula Systems (1985) in the second quarter worth $222,000. Finally, CX Institutional bought a new position in Formula Systems (1985) in the 3rd quarter valued at $398,000. Hedge funds and other 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.