Formula Systems (1985) (NASDAQ:FORTY) Share Price Passes Above 200-Day Moving Average - Here's Why

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 stock 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 changing hands.

Wall Street Analysts Forecast Growth

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

Formula Systems (1985) Stock Performance

The stock has a 50-day moving average of $118.05 and a 200 day moving average of $101.09. The stock has a market cap of $1.69 billion, a PE ratio of 21.08 and a beta of 0.97. The company has a quick ratio of 1.23, a current ratio of 1.26 and a debt-to-equity ratio of 0.16.

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

Formula Systems (1985) Increases Dividend

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

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 holdings in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY - Free Report) by 7.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing. 34.76% of the stock is currently owned by institutional investors.

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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