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

Key Points

• Formula Systems (1985) Ltd. experienced a significant increase in trading volume of 89%, trading 1,381 shares on Tuesday, with the stock price rising to $111.89 from a previous close of $108.27.
• Wall Street analysts downgraded the company's rating from "strong-buy" to "buy", indicating a cautious outlook on the stock’s future performance.
• The firm recently announced a semi-annual dividend increase, raising it from $0.69 to $0.9728, resulting in a yield of 100.0%, with a relatively low payout ratio of 12.64%.

Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report) saw strong trading volume on Tuesday . 1,381 shares were traded during mid-day trading, an increase of 89% from the previous session's volume of 732 shares.The stock last traded at $111.89 and had previously closed at $108.27.

Wall Street Analysts Forecast Growth

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

Formula Systems (1985) Trading Down 6.0%

The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 21.43 and a beta of 0.93. The company has a fifty day moving average price of $119.31 and a two-hundred day moving average price of $102.44. The company has a current ratio of 1.26, a quick ratio of 1.23 and a debt-to-equity ratio of 0.16.

Formula Systems (1985) (NASDAQ:FORTY - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The technology company reported $1.23 EPS for the quarter. Formula Systems (1985) had a return on equity of 6.00% and a net margin of 2.91%. The company had revenue of $754.68 million for the quarter.

Formula Systems (1985) Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Friday, August 1st. Investors of record on Monday, July 7th were issued a $0.9728 dividend. This represents a yield of 100.0%. This is a boost from Formula Systems (1985)'s previous semi-annual dividend of $0.69. The ex-dividend date of this dividend was Monday, July 7th. Formula Systems (1985)'s dividend payout ratio is currently 12.64%.

Hedge Funds Weigh In On Formula Systems (1985)

A hedge fund recently raised its stake in Formula Systems (1985) stock. Altshuler Shaham Ltd increased its stake in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY - Free Report) by 7.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,385 shares of the technology company's stock after buying an additional 450 shares during the quarter. Altshuler Shaham Ltd's holdings in Formula Systems (1985) were worth $536,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.

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