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

Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report)'s share price gapped up prior to trading on Thursday . The stock had previously closed at $113.00, but opened at $125.00. Formula Systems (1985) shares last traded at $122.24, with a volume of 241 shares.

Analysts Set New Price Targets

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

Formula Systems (1985) Stock Up 8.2%

The firm has a market cap of $1.87 billion, a PE ratio of 23.42 and a beta of 0.93. The company has a 50-day simple moving average of $100.65 and a 200-day simple moving average of $94.61. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.26 and a quick ratio of 1.23.

Formula Systems (1985) (NASDAQ:FORTY - Get Free Report) last issued its quarterly 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 business also recently declared a semi-annual dividend, which will be paid on Friday, August 1st. Stockholders of record on Monday, July 7th will be issued a $0.9728 dividend. The ex-dividend date of this dividend is Monday, July 7th. This is a boost from Formula Systems (1985)'s previous semi-annual dividend of $0.69. This represents a dividend yield of 1%. Formula Systems (1985)'s dividend payout ratio is presently 27.20%.

Institutional Trading of Formula Systems (1985)

A hedge fund recently raised its stake in Formula Systems (1985) stock. Altshuler Shaham Ltd increased its stake in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY - Free Report) by 7.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,385 shares of the technology company's stock after purchasing an additional 450 shares during the quarter. 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 and hedge funds.

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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