Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Up - Should You Buy?

Key Points

• Formula Systems (1985) Ltd. shares gapped up significantly, opening at $118.36 after a previous close of $108.27, indicating bullish market sentiment.
• Wall Street analysts downgraded the stock from a "strong-buy" to a "buy" rating, suggesting a tempered outlook on growth.
• The company declared a semi-annual dividend of $0.9728 per share, a notable increase from its previous dividend, reflecting a positive cash position and shareholder return strategy.

Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report)'s stock price gapped up before the market opened on Monday . The stock had previously closed at $108.27, but opened at $118.36. Formula Systems (1985) shares last traded at $118.68, with a volume of 636 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 research report on Saturday, June 21st.

Formula Systems (1985) Stock Performance

The company has a market cap of $1.82 billion, a price-to-earnings ratio of 22.68 and a beta of 0.93. The company has a quick ratio of 1.23, a current ratio of 1.26 and a debt-to-equity ratio of 0.16. The stock has a 50 day simple moving average of $119.14 and a 200 day simple moving average of $102.22.

Formula Systems (1985) (NASDAQ:FORTY - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The technology company reported $1.23 earnings per share (EPS) for the quarter. The business had revenue of $754.68 million during 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 firm also recently declared 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. This is a positive change from Formula Systems (1985)'s previous semi-annual dividend of $0.69. This represents a yield of 100.0%. The ex-dividend date was Monday, July 7th. Formula Systems (1985)'s dividend payout ratio is 12.64%.

Institutional Trading of 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 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,385 shares of the technology company's stock after buying an additional 450 shares during the quarter. Altshuler Shaham Ltd's holdings in Formula Systems (1985) were worth $536,000 at the end of the most recent reporting period. 34.76% of the stock is 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.

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