Formula Systems (1985) (NASDAQ:FORTY) Sees Strong Trading Volume - Time to Buy?

Key Points

• Formula Systems (1985) Ltd. experienced a significant increase in trading volume, with 655 shares traded, marking a 37% rise from the previous session.
• Wall Street Zen downgraded the company's rating from a "strong-buy" to a "buy", signaling potential changes in investor sentiment.
• The company declared a quarterly dividend of $0.505 per share, scheduled to be paid on November 7th, providing a yield of 1.5% to shareholders.

Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 655 shares were traded during mid-day trading, an increase of 37% from the previous session's volume of 479 shares.The stock last traded at $140.03 and had previously closed at $136.79.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Formula Systems (1985) from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 21st.

Formula Systems (1985) Price Performance

The company has a quick ratio of 1.17, a current ratio of 1.21 and a debt-to-equity ratio of 0.17. The business's 50 day moving average price is $126.07 and its 200-day moving average price is $108.14. The company has a market cap of $2.22 billion, a PE ratio of 29.15 and a beta of 0.94.

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

Formula Systems (1985) Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Tuesday, October 14th will be paid a dividend of $0.505 per share. The ex-dividend date is Tuesday, October 14th. This represents a $2.02 annualized dividend and a yield of 1.4%. Formula Systems (1985)'s payout ratio is presently 28.77%.

Hedge Funds Weigh In On Formula Systems (1985)

An institutional investor recently bought a new position in Formula Systems (1985) stock. Raymond James Financial Inc. purchased a new stake in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 568 shares of the technology company's stock, valued at approximately $73,000. Institutional investors and hedge funds own 34.76% of the company's stock.

Formula Systems (1985) Company Profile

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.