Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $113.30 and last traded at $112.00, with a volume of 627 shares trading hands. The stock had previously closed at $111.30.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen downgraded Formula Systems (1985) from a "strong-buy" rating to a "buy" rating in a report on Saturday.
Check Out Our Latest Report on Formula Systems (1985)
Formula Systems (1985) Price Performance
The stock has a fifty day moving average of $99.38 and a 200-day moving average of $94.28. The company has a quick ratio of 1.23, a current ratio of 1.26 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 21.46 and a beta of 0.93.
Formula Systems (1985) (NASDAQ:FORTY - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The technology company reported $1.23 earnings per share for the quarter. Formula Systems (1985) had a return on equity of 6.00% and a net margin of 2.91%. The company had revenue of $754.68 million during the quarter.
Formula Systems (1985) Increases Dividend
The company also recently disclosed a semi-annual dividend, which will be paid on Friday, August 1st. Shareholders of record on Monday, July 7th will be paid a $0.9728 dividend. The ex-dividend date is Monday, July 7th. This represents a yield of 1%. This is a boost from Formula Systems (1985)'s previous semi-annual dividend of $0.69. Formula Systems (1985)'s payout ratio is currently 27.20%.
Institutional Investors Weigh In On Formula Systems (1985)
A hedge fund recently raised its stake in Formula Systems (1985) stock. Altshuler Shaham Ltd lifted its stake in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY - Free Report) by 7.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,385 shares of the technology company's stock after purchasing an additional 450 shares during the quarter. Altshuler Shaham Ltd's holdings in Formula Systems (1985) were worth $536,000 at the end of the most recent quarter. 34.76% of the stock is owned by institutional investors.
About Formula Systems (1985)
(
Get Free Report)
Formula Systems (1985) Ltd., through its subsidiaries, provides proprietary and non-proprietary software solutions, IT professional services, software product marketing and support, computer infrastructure and integration solutions, and learning and integration worldwide. The company offers computer and telecommunication infrastructure solutions; and sells and markets computers and peripheral equipment, and cloud based solutions and services relating to databases and big data.
Further Reading
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