Formula Systems (1985) (NASDAQ:FORTY) Shares Pass Above 200 Day Moving Average - Time to Sell?

Key Points

• Formula Systems (1985) Ltd. shares have recently crossed above their 200-day moving average, indicating potential upward momentum. The stock traded as high as $112.81, with the last price at $111.89.
• Analysts have downgraded the stock from a "strong-buy" to a "buy" rating, indicating a less favorable outlook.
• The company declared an increase in its semi-annual dividend to $0.9728 per share, reflecting a dividend yield of 100.0%, up from the previous $0.69.

Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $102.50 and traded as high as $112.81. Formula Systems (1985) shares last traded at $111.89, with a volume of 413 shares changing hands.

Analysts Set New Price Targets

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

Formula Systems (1985) Price Performance

The stock has a market cap of $1.85 billion, a P/E ratio of 23.17 and a beta of 0.93. The firm has a 50-day moving average price of $120.26 and a 200-day moving average price of $103.22. 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 announced its earnings results on Thursday, May 22nd. The technology company reported $1.23 earnings per share (EPS) for the quarter. Formula Systems (1985) had a return on equity of 6.00% and a net margin of 2.91%. The firm had revenue of $754.68 million during the quarter.

Formula Systems (1985) Increases Dividend

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

Institutional Trading of Formula Systems (1985)

A hedge fund recently bought a new stake in Formula Systems (1985) stock. Raymond James Financial Inc. bought a new position in Formula Systems (1985) Ltd. (NASDAQ:FORTY - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 568 shares of the technology company's stock, valued at approximately $73,000. 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.