Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Up – Time to Buy?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares gapped up prior to trading on Tuesday . The stock had previously closed at $107.00, but opened at $113.00. Formula Systems (1985) shares last traded at $113.00, with a volume of 939 shares.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Formula Systems (1985) in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Formula Systems (1985) Stock Performance

The company has a quick ratio of 1.66, a current ratio of 1.68 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average price of $126.60 and a 200 day moving average price of $136.76. The firm has a market capitalization of $1.70 billion, a PE ratio of 2.82 and a beta of 1.21.

Formula Systems (1985) (NASDAQ:FORTY) last posted its quarterly earnings data on Thursday, May 28th. The technology company reported $2.25 earnings per share (EPS) for the quarter. Formula Systems (1985) had a return on equity of 4.01% and a net margin of 21.58%.The firm had revenue of $738.28 million for the quarter.

Formula Systems (1985) Announces Dividend

The firm also recently declared a special dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 22nd were paid a dividend of $13.045 per share. The ex-dividend date was Friday, May 22nd. Formula Systems (1985)’s dividend payout ratio is 1.88%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its holdings in shares of Formula Systems (1985) by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock valued at $391,000 after purchasing an additional 86 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Formula Systems (1985) during the 2nd quarter worth approximately $73,000. Altshuler Shaham Ltd lifted its holdings in Formula Systems (1985) by 10.4% during the 1st quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock worth $926,000 after buying an additional 727 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new position in Formula Systems (1985) in the 1st quarter valued at approximately $206,000. 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.