Formula Systems (1985) (NASDAQ:FORTY) Reaches New 52-Week High - Time to Buy?

Key Points

• Formula Systems (1985) Ltd. reached a new 52-week high of $156.87, up from a previous close of $142.15, with 1,231 shares traded.
• The company announced a quarterly dividend of $0.505 to be paid on November 7th, representing an annual yield of 1.3%.
• Analysts have mixed ratings on the stock, with Weiss Ratings reaffirming a hold rating, while Wall Street Zen downgraded the stock from a "strong-buy" to a "buy" rating.

Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $150.22 and last traded at $156.87, with a volume of 1231 shares changing hands. The stock had previously closed at $142.15.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FORTY. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Formula Systems (1985) in a research report on Wednesday. Wall Street Zen lowered Formula Systems (1985) from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 21st. One equities 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) Price Performance

The firm has a market capitalization of $2.40 billion, a PE ratio of 31.56 and a beta of 0.90. The business has a 50-day moving average of $130.48 and a 200 day moving average of $113.90. The company has a current ratio of 1.21, a quick ratio of 1.17 and a debt-to-equity ratio of 0.17.

Formula Systems (1985) (NASDAQ:FORTY - Get Free Report) last released its quarterly earnings results on Tuesday, August 19th. The technology company reported $0.95 EPS for the quarter. The business had revenue of $743.37 million during the quarter. Formula Systems (1985) had a return on equity of 5.58% and a net margin of 2.70%.

Formula Systems (1985) Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Tuesday, October 14th will be paid a $0.505 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Tuesday, October 14th. Formula Systems (1985)'s dividend payout ratio is 26.76%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Formula Systems (1985) stock. Raymond James Financial Inc. acquired a new stake in Formula Systems (1985) Ltd. (NASDAQ:FORTY - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 568 shares of the technology company's stock, valued at approximately $73,000. 34.76% of the stock is owned by institutional investors.

About Formula Systems (1985)

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.

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