Formula Systems (1985) (NASDAQ:FORTY) Sees Large Volume Increase - 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%.

Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report) saw strong trading volume on Wednesday . 1,120 shares were traded during 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 Upgrades and Downgrades

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

Formula Systems (1985) Trading Up 1.5%

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 $124.81 and a 200 day simple moving average of $106.68. The firm has a market capitalization of $2.13 billion, a P/E ratio of 27.95 and a beta of 0.94.

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

Formula Systems (1985) Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Tuesday, October 14th will be issued a $0.505 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, October 14th. Formula Systems (1985)'s payout ratio is 26.76%.

Institutional Investors Weigh In On Formula Systems (1985)

A hedge fund recently bought a new stake in Formula Systems (1985) stock. Raymond James Financial Inc. bought a new position in Formula Systems (1985) Ltd. (NASDAQ:FORTY - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 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.

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.