Formula Systems (1985) (NASDAQ:FORTY) Sees Large Volume Increase - Still a Buy?

Key Points

• Formula Systems (1985) Ltd. experienced a notable increase in trading volume, with 543 shares traded, up 17% from the previous day.
• Analysts have given the stock a consensus rating of "Hold", with Weiss Ratings reissuing a "hold (c-)" rating on October 8th.
• The company announced a quarterly dividend of $0.505 per share, to be paid on November 7th, representing an annualized yield of 1.4%.

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report) saw strong trading volume on Wednesday . 543 shares traded hands during mid-day trading, an increase of 17% from the previous session's volume of 466 shares.The stock last traded at $141.62 and had previously closed at $143.49.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "hold (c-)" rating on shares of Formula Systems (1985) in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of "Hold".

Formula Systems (1985) Stock 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 stock has a 50 day simple moving average of $135.98 and a two-hundred day simple moving average of $117.34. The stock has a market capitalization of $2.17 billion, a P/E ratio of 28.49 and a beta of 0.90.

Formula Systems (1985) (NASDAQ:FORTY - Get Free Report) last posted its quarterly earnings results on Tuesday, August 19th. The technology company reported $0.95 earnings per share for the quarter. The firm 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 business also recently declared 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 1.4%. The ex-dividend date is Tuesday, October 14th. Formula Systems (1985)'s dividend payout ratio (DPR) is currently 28.77%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Formula Systems (1985) stock. Elevation Point Wealth Partners LLC purchased a new stake in Formula Systems (1985) Ltd. (NASDAQ:FORTY - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,740 shares of the technology company's stock, valued at approximately $222,000. 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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