Formula Systems (1985) (NASDAQ:FORTY) Sees Strong Trading Volume - Here's Why

Key Points

• Formula Systems (1985) Ltd. experienced a significant increase in trading volume, with 1,120 shares traded, marking a 174% rise from the previous session.
• The company reported a quarterly EPS of $0.95 and revenue of $743.37 million for its latest quarter, with a market capitalization of $2.02 billion.
• A quarterly dividend of $0.505 per share is set to be paid on November 7th, with a dividend yield of 1.5%.

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report) saw strong trading volume on Wednesday . 1,120 shares were traded during mid-day trading, an increase of 174% from the previous session's volume of 409 shares.The stock last traded at $131.73 and had previously closed at $129.13.

Analyst Ratings Changes

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

Formula Systems (1985) Trading Up 2.0%

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 fifty day simple moving average of $124.33 and a 200 day simple moving average of $105.96. The firm has a market capitalization of $2.02 billion, a P/E ratio of 26.51 and a beta of 0.94.

Formula Systems (1985) (NASDAQ:FORTY - Get Free Report) last posted 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 for the quarter. Formula Systems (1985) had a return on equity of 5.58% and a net margin of 2.70%.

Formula Systems (1985) Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Tuesday, October 14th. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.5%. Formula Systems (1985)'s dividend payout ratio (DPR) is presently 26.76%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Formula Systems (1985) stock. Elevation Point Wealth Partners LLC acquired a new stake in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,740 shares of the technology company's stock, valued at approximately $222,000. 34.76% of the stock is currently owned by hedge funds and other institutional investors.

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.

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