Formula Systems (1985) (NASDAQ:FORTY) Share Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Formula Systems (1985) Ltd. shares crossed above their 200-day moving average, trading at $146.93 after reaching a high of $143.49.
• Recent analyst reports show a consensus rating of "Hold", with Weiss Ratings maintaining a "hold (c-)" rating and Wall Street Zen downgrading the stock from "strong-buy" to "buy".
• The company announced a quarterly dividend of $0.505 per share, representing an annual yield of 1.4%, with the payment scheduled for November 7th.

Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $116.37 and traded as high as $143.49. Formula Systems (1985) shares last traded at $146.93, with a volume of 742 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on FORTY shares. Weiss Ratings restated a "hold (c-)" rating on shares of Formula Systems (1985) in a research report on Wednesday, October 8th. 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. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Formula Systems (1985) currently has a consensus rating of "Hold".

Formula Systems (1985) Stock Down 1.8%

The company has a market cap of $2.25 billion, a PE ratio of 29.56 and a beta of 0.90. The business's fifty day simple moving average is $134.83 and its two-hundred day simple moving average is $116.37. 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 released its earnings results on Tuesday, August 19th. The technology company reported $0.95 EPS for the quarter. The business had revenue of $743.37 million during the quarter. Formula Systems (1985) had a net margin of 2.70% and a return on equity of 5.58%.

Formula Systems (1985) Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Tuesday, October 14th will be paid a dividend of $0.505 per share. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.4%. Formula Systems (1985)'s payout ratio is currently 28.77%.

Institutional Trading of Formula Systems (1985)

A hedge fund recently bought a new stake in Formula Systems (1985) stock. Elevation Point Wealth Partners LLC bought a new position in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,740 shares of the technology company's stock, valued at approximately $222,000. 34.76% of the stock is currently owned by institutional investors.

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.

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