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

Formula Systems (1985) Ltd. (NASDAQ:FORTY) saw unusually-strong trading volume on Wednesday . Approximately 402 shares were traded 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.

Wall Street Analysts Forecast Growth

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

Formula Systems (1985) Stock Performance

The stock’s fifty day simple moving average is $158.89 and its 200-day simple moving average is $138.57. 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 company has a market capitalization of $2.86 billion, a PE ratio of 41.16 and a beta of 1.07.

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

Formula Systems (1985) Cuts Dividend

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

Institutional Investors Weigh In On Formula Systems (1985)

Several institutional investors and hedge funds have recently made changes to their positions in the business. GHP Investment Advisors Inc. increased its holdings in Formula Systems (1985) by 10.8% during 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 in the last quarter. CX Institutional acquired a new stake in shares of Formula Systems (1985) in the third quarter valued at approximately $398,000. Raymond James Financial Inc. purchased a new position in shares of Formula Systems (1985) during the 2nd quarter worth approximately $73,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of Formula Systems (1985) during the 2nd quarter worth approximately $222,000. 34.76% of the stock is currently owned by hedge funds and other institutional investors.

Formula Systems (1985) Company Profile

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.