Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Up - Time to Buy?

Key Points

• Formula Systems (1985) Ltd. shares opened at $144.94 after closing at $140.00, indicating significant market interest.
• Analysts have downgraded the stock from a "strong-buy" to a "buy" rating, reflecting a shift in sentiment regarding its investment potential.
• The company announced a quarterly dividend of $0.505 per share, with the ex-dividend date set for October 14th, representing a yield of 1.5%.

Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $140.00, but opened at $144.94. Formula Systems (1985) shares last traded at $139.23, with a volume of 481 shares trading hands.

Analysts Set New Price Targets

Separately, Wall Street Zen cut 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 company has a debt-to-equity ratio of 0.17, a current ratio of 1.21 and a quick ratio of 1.17. The stock's 50 day simple moving average is $126.43 and its two-hundred day simple moving average is $108.76. The stock has a market cap of $2.05 billion, a P/E ratio of 26.91 and a beta of 0.94.

Formula Systems (1985) (NASDAQ:FORTY - Get Free Report) last released its quarterly earnings data on Tuesday, August 19th. The technology company reported $0.95 EPS for the quarter. Formula Systems (1985) had a net margin of 2.70% and a return on equity of 5.58%. The firm had revenue of $743.37 million for the quarter.

Formula Systems (1985) Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Tuesday, October 14th will be paid a $0.505 dividend. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $2.02 annualized dividend and a dividend yield of 1.5%. Formula Systems (1985)'s dividend payout ratio is currently 26.76%.

Institutional Trading of Formula Systems (1985)

A hedge fund recently bought a new stake in Formula Systems (1985) stock. Elevation Point Wealth Partners LLC acquired a new position in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,740 shares of the technology company's stock, valued at approximately $222,000. 34.76% of the stock is owned by hedge funds and other 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.