Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Up - What's Next?

Key Points

• Formula Systems (1985) Ltd. shares experienced a significant increase, opening at $142.00 after closing at $134.91, with the latest trade price at $139.00.
• Equities analysts have recently downgraded the stock's rating from "strong-buy" to "buy", impacting investor sentiment amid a consensus rating of "Hold."
• The company also announced a quarterly dividend of $0.505 per share, scheduled for payment on November 7th, representing an annualized yield of 1.5%.

Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $134.91, but opened at $142.00. Formula Systems (1985) shares last traded at $139.00, with a volume of 453 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Wall Street Zen cut Formula Systems (1985) from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 21st. Weiss Ratings restated a "hold (c-)" rating on shares of Formula Systems (1985) in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold".

Formula Systems (1985) Stock Down 2.1%

The company has a current ratio of 1.21, a quick ratio of 1.17 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $2.13 billion, a P/E ratio of 27.97 and a beta of 0.90. The stock's 50-day simple moving average is $128.84 and its 200-day simple moving average is $113.06.

Formula Systems (1985) (NASDAQ:FORTY - Get Free Report) last posted its earnings results 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Tuesday, October 14th will be issued a dividend of $0.505 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Tuesday, October 14th. Formula Systems (1985)'s dividend payout ratio (DPR) is 28.77%.

Institutional Investors Weigh In On Formula Systems (1985)

A hedge fund recently bought a new stake in Formula Systems (1985) stock. Elevation Point Wealth Partners LLC acquired a new stake in Formula Systems (1985) Ltd. (NASDAQ:FORTY - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,740 shares of the technology company's stock, valued at approximately $222,000. 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.

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