Formula Systems (1985) (NASDAQ:FORTY) Sees Large Volume Increase – Here’s Why

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares saw strong trading volume on Tuesday . 323 shares traded hands during mid-day trading, a decline of 47% from the previous session’s volume of 609 shares.The stock last traded at $117.65 and had previously closed at $121.50.

Wall Street Analysts Forecast Growth

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

Formula Systems (1985) Price Performance

The company’s fifty day moving average is $132.97 and its 200 day moving average is $143.36. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 3.03 and a beta of 1.17. The company has a quick ratio of 1.66, a current ratio of 1.68 and a debt-to-equity ratio of 0.12.

Formula Systems (1985) (NASDAQ:FORTY) last announced its earnings results on Thursday, May 28th. The technology company reported $2.25 EPS for the quarter. Formula Systems (1985) had a net margin of 21.58% and a return on equity of 4.01%. The business had revenue of $738.29 million during the quarter.

Formula Systems (1985) Dividend Announcement

The company also recently declared a special dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 22nd were paid a $13.045 dividend. The ex-dividend date was Friday, May 22nd. Formula Systems (1985)’s dividend payout ratio (DPR) is currently 2.72%.

Institutional Trading of Formula Systems (1985)

Large investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in Formula Systems (1985) in the second quarter valued at $73,000. Dimensional Fund Advisors LP lifted its stake in 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 acquiring an additional 86 shares during the last quarter. Altshuler Shaham Ltd lifted its stake in Formula Systems (1985) by 10.4% in the first quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock valued at $926,000 after acquiring an additional 727 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC acquired a new stake in Formula Systems (1985) in the first quarter valued at $206,000. Institutional investors and hedge funds 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.