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

Key Points

• Formula Systems (NASDAQ:FORTY) saw unusually strong trading volume, with 1,613 shares changing hands, up 160% from the prior session. The stock last traded near flat at $107.90 versus a previous close of $108.00.
• Weiss Ratings restated a “hold (c)” rating on the stock, and MarketBeat data shows the overall analyst consensus remains Hold.
• The company recently reported quarterly EPS of $2.25 on revenue of $738.29 million, and it also paid a special dividend of $13.045 per share on June 15.

Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report) shares saw unusually-strong trading volume on Monday . 1,613 shares changed hands during trading, an increase of 160% from the previous session's volume of 620 shares.The stock last traded at $107.90 and had previously closed at $108.00.

Analyst Ratings Changes

Separately, Weiss Ratings restated a "hold (c)" rating on shares of Formula Systems (1985) in a research note on Friday, March 27th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of "Hold".

Formula Systems (1985) Price Performance

The stock has a market capitalization of $1.65 billion, a P/E ratio of 2.74 and a beta of 1.21. The business's 50 day simple moving average is $122.32 and its two-hundred day simple moving average is $133.34. The company has a quick ratio of 1.66, a current ratio of 1.68 and a debt-to-equity ratio of 0.12.

Formula Systems (1985) (NASDAQ:FORTY - Get Free Report) last posted its earnings results on Thursday, May 28th. The technology company reported $2.25 EPS for the quarter. Formula Systems (1985) had a net margin of 21.58% and a return on equity of 4.01%. The company had revenue of $738.29 million during the quarter.

Formula Systems (1985) Dividend Announcement

The business also recently announced a special dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 22nd were given a dividend of $13.045 per share. The ex-dividend date of this dividend was Friday, May 22nd. Formula Systems (1985)'s payout ratio is presently 1.88%.

Hedge Funds Weigh In On Formula Systems (1985)

Several hedge funds have recently modified their holdings of FORTY. Elevation Point Wealth Partners LLC purchased a new stake in shares of Formula Systems (1985) during the first quarter valued at approximately $206,000. Altshuler Shaham Ltd boosted its position in Formula Systems (1985) by 30.8% in the fourth quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company's stock worth $1,182,000 after purchasing an additional 1,650 shares during the last quarter. Raymond James Financial Inc. bought a new position in Formula Systems (1985) in the 2nd quarter valued at $73,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Formula Systems (1985) by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company's stock valued at $391,000 after purchasing an additional 86 shares during the last quarter. Institutional investors own 34.76% of the company's stock.

About Formula Systems (1985)

Formula Systems (1985) Ltd is an Israeli publicly traded holding company specializing in the software and information technology sectors. Founded in 1985 and listed on NASDAQ under the ticker FORTY, the company focuses on acquiring, investing in and developing independent software firms. Its core mission is to foster innovation in enterprise software, cybersecurity and digital transformation solutions.

The company's principal activities center on holding controlling and significant equity stakes in several market-leading software enterprises.

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