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

Key Points

• Formula Systems (1985)'s stock price recently surpassed its 200-day moving average of $101.09, trading as high as $119.50 before closing at $110.06.
• Wall Street analysts lowered the company's rating from "strong-buy" to "buy" on June 21st, indicating a shift in market sentiment.
• The firm announced a semi-annual dividend increase to $0.9728 per share, up from the previous $0.69, reflecting a positive change in its dividend payout policy.

Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report)'s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $101.09 and traded as high as $119.50. Formula Systems (1985) shares last traded at $110.06, with a volume of 2,678 shares traded.

Analysts Set New Price Targets

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

Formula Systems (1985) Stock Performance

The firm has a 50 day moving average of $118.91 and a 200-day moving average of $101.69. The stock has a market capitalization of $1.70 billion, a PE ratio of 21.22 and a beta of 0.93. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.23 and a current ratio of 1.26.

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

Formula Systems (1985) Increases Dividend

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

Institutional Investors Weigh In On Formula Systems (1985)

An institutional investor recently raised its position 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 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,385 shares of the technology company's stock after acquiring an additional 450 shares during the period. Altshuler Shaham Ltd's holdings in Formula Systems (1985) were worth $536,000 as of its most recent filing with the SEC. 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.