Formula Systems (1985) (NASDAQ:FORTY) Issues Quarterly Earnings Results

Formula Systems (1985) (NASDAQ:FORTY) posted its quarterly earnings results on Thursday. The technology company reported $2.25 earnings per share (EPS) for the quarter, FiscalAI reports. Formula Systems (1985) had a net margin of 20.89% and a return on equity of 3.25%. The firm had revenue of $738.29 million for the quarter.

Formula Systems (1985) Trading Down 3.3%

FORTY stock opened at $128.50 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.63 and a quick ratio of 1.61. The company has a fifty day moving average price of $132.48 and a two-hundred day moving average price of $146.19. Formula Systems has a one year low of $101.21 and a one year high of $190.56. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 3.36 and a beta of 1.17.

Formula Systems (1985) Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 22nd will be given a dividend of $13.045 per share. The ex-dividend date of this dividend is Friday, May 22nd. Formula Systems (1985)’s payout ratio is 28.28%.

Hedge Funds Weigh In On Formula Systems (1985)

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd boosted its position in Formula Systems (1985) by 10.4% during the first quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock worth $926,000 after purchasing an additional 727 shares during the period. Dimensional Fund Advisors LP lifted its position in Formula Systems (1985) by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock worth $391,000 after acquiring an additional 86 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in Formula Systems (1985) during the first quarter worth approximately $206,000. Finally, Raymond James Financial Inc. acquired a new stake in Formula Systems (1985) during the second quarter worth approximately $73,000. 34.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Friday, March 27th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold”.

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.