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

Key Points

• Formula Systems (1985) Ltd. experienced a 24% increase in trading volume, with 541 shares traded on Wednesday compared to 435 shares the previous session.
• The company announced a quarterly dividend of $0.505 per share, payable on November 7th, leading to an annualized dividend yield of 1.4%.
• Brokerages have recently adjusted their ratings for Formula Systems, with Wall Street Zen downgrading the stock from a "strong-buy" to a "buy" rating, reflecting a consensus rating of "Hold".

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report) saw an uptick in trading volume on Wednesday . 541 shares were traded during trading, an increase of 24% from the previous session's volume of 435 shares.The stock last traded at $143.92 and had previously closed at $142.00.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FORTY. Wall Street Zen cut Formula Systems (1985) from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 21st. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Formula Systems (1985) in a research report on Wednesday. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of "Hold".

Formula Systems (1985) Stock Performance

The firm's 50 day moving average price is $129.13 and its 200-day moving average price is $113.24. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 28.96 and a beta of 0.90. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.21 and a quick ratio of 1.17.

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

Formula Systems (1985) Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Tuesday, October 14th will be paid a $0.505 dividend. The ex-dividend date is Tuesday, October 14th. This represents a $2.02 annualized dividend and a dividend yield of 1.4%. 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 bought a new position in Formula Systems (1985) Ltd. (NASDAQ:FORTY - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,740 shares of the technology company's stock, valued at approximately $222,000. Hedge funds and other institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.