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

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares saw an uptick in trading volume on Monday . 1,575 shares traded hands during trading, an increase of 438% from the previous session’s volume of 293 shares.The stock last traded at $135.3690 and had previously closed at $165.68.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Formula Systems (1985) in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold”.

Formula Systems (1985) Stock Down 0.5%

The company’s 50 day simple moving average is $168.07 and its two-hundred day simple moving average is $148.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.58 and a current ratio of 1.60.

Formula Systems (1985) (NASDAQ:FORTY) last posted its quarterly earnings data 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 during the quarter.

Formula Systems (1985) Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 23rd. Investors of record on Tuesday, December 30th were paid a dividend of $0.5021 per share. The ex-dividend date of this dividend was Tuesday, December 30th. This represents a $2.01 annualized dividend and a yield of 1.5%. Formula Systems (1985)’s dividend payout ratio is presently 32.60%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FORTY. Raymond James Financial Inc. purchased a new stake in Formula Systems (1985) during the 2nd quarter worth approximately $73,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Formula Systems (1985) in the second quarter valued at $222,000. CX Institutional purchased a new position in Formula Systems (1985) in the third quarter valued at $398,000. Finally, GHP Investment Advisors Inc. grew its stake 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 worth $1,082,000 after purchasing an additional 755 shares in the last quarter. 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.