Formula Systems (1985) (NASDAQ:FORTY) Sets New 52-Week High - Here's What Happened

Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report)'s share price hit a new 52-week high during trading on Thursday . The company traded as high as $110.00 and last traded at $104.45, with a volume of 279 shares trading hands. The stock had previously closed at $108.50.

Formula Systems (1985) Stock Performance

The business has a 50 day moving average of $94.32 and a 200 day moving average of $92.58. The company has a market capitalization of $1.70 billion, a P/E ratio of 23.05 and a beta of 0.88. The company has a quick ratio of 1.38, a current ratio of 1.41 and a debt-to-equity ratio of 0.22.

Formula Systems (1985) (NASDAQ:FORTY - Get Free Report) last announced 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 5.68% and a net margin of 2.78%. The company had revenue of $754.68 million during the quarter.

Formula Systems (1985) Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Friday, August 1st. Investors of record on Monday, July 7th will be paid a dividend of $0.9728 per share. The ex-dividend date is Monday, July 7th. This is a positive change from Formula Systems (1985)'s previous semi-annual dividend of $0.69. This represents a yield of 1%. Formula Systems (1985)'s dividend payout ratio is presently 11.88%.

Institutional Investors Weigh In On Formula Systems (1985)

A hedge fund recently raised its stake in Formula Systems (1985) stock. Altshuler Shaham Ltd grew its stake in Formula Systems (1985) Ltd. (NASDAQ:FORTY - Free Report) by 7.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,385 shares of the technology company's stock after purchasing an additional 450 shares during the period. Altshuler Shaham Ltd's holdings in Formula Systems (1985) were worth $536,000 at the end of the most recent reporting period. Institutional investors 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.