Formula Systems (1985) (NASDAQ:FORTY) Shares Cross Above 200 Day Moving Average - Here's Why

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)'s share price passed 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.

Analyst Upgrades and Downgrades

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

Formula Systems (1985) Stock Performance

The firm's fifty day moving average price is $120.06 and its 200-day moving average price is $102.89. The company has a current ratio of 1.26, a quick ratio of 1.23 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.85 billion, a P/E ratio of 23.17 and a beta of 0.93.

Formula Systems (1985) (NASDAQ:FORTY - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The technology company reported $1.23 earnings per share (EPS) for the quarter. The company had revenue of $754.68 million for 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 company also recently declared a semi-annual dividend, which was paid on Friday, August 1st. Shareholders of record on Monday, July 7th were given a $0.9728 dividend. This represents a yield of 100.0%. This is a boost from Formula Systems (1985)'s previous semi-annual dividend of $0.69. The ex-dividend date was Monday, July 7th. Formula Systems (1985)'s dividend payout ratio (DPR) is presently 12.64%.

Hedge Funds Weigh In On Formula Systems (1985)

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FORTY. Raymond James Financial Inc. acquired a new position in shares of Formula Systems (1985) during the second quarter worth approximately $73,000. Elevation Point Wealth Partners LLC acquired a new position in shares of Formula Systems (1985) during the second quarter worth approximately $222,000. Finally, Altshuler Shaham Ltd lifted its position in shares of Formula Systems (1985) by 7.6% during the fourth quarter. Altshuler Shaham Ltd now owns 6,385 shares of the technology company's stock worth $536,000 after purchasing an additional 450 shares in the last quarter. 34.76% of the stock is currently owned by institutional investors and hedge funds.

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.