Formula Systems (1985) (NASDAQ:FORTY) Sees Unusually-High Trading Volume - What's Next?

Key Points

• Formula Systems (1985) Ltd. experienced a significant increase in trading volume, with 970 shares traded, marking a 107% rise compared to the previous day.
• Wall Street analysts have downgraded the company's rating from "strong-buy" to "buy", indicating a potential shift in market sentiment.
• The company recently announced a quarterly dividend of $0.505 per share, which will be paid on November 7th, representing an annualized yield of 1.4%.

Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report) shares saw unusually-strong trading volume on Monday . Approximately 970 shares changed hands during mid-day trading, an increase of 107% from the previous session's volume of 468 shares.The stock last traded at $141.10 and had previously closed at $144.94.

Analysts Set New Price Targets

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

Formula Systems (1985) Price Performance

The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 28.93 and a beta of 0.94. The company's 50 day simple moving average is $127.01 and its 200-day simple moving average is $109.64. 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 earnings per share (EPS) for the quarter. Formula Systems (1985) had a net margin of 2.70% and a return on equity of 5.58%. The company had revenue of $743.37 million for the quarter.

Formula Systems (1985) Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Tuesday, October 14th will be given a dividend of $0.505 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, October 14th. Formula Systems (1985)'s payout ratio is presently 26.76%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Formula Systems (1985) stock. Raymond James Financial Inc. bought 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 filing with the Securities & Exchange Commission. The fund bought 568 shares of the technology company's stock, valued at approximately $73,000. 34.76% of the stock is owned by institutional investors and hedge funds.

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.