Formula Systems (1985) (NASDAQ:FORTY) Shares Pass Above 200 Day Moving Average - Should You Sell?

Key Points

• Formula Systems (1985) Ltd.'s share price crossed above its 200-day moving average, reaching $143.80 after trading as high as $138.42, indicating positive momentum in the stock.
• The company has recently announced a quarterly dividend of $0.505, with an annualized yield of 1.4%, scheduled to be paid on November 7th.
• Wall Street Zen downgraded the shares from a "strong-buy" rating to a "buy" rating, reflecting a change in analysts' sentiment towards the stock.

Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report)'s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $109.64 and traded as high as $138.42. Formula Systems (1985) shares last traded at $143.80, with a volume of 295 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 research note on Saturday, June 21st.

Formula Systems (1985) Trading Down 0.9%

The business's fifty day moving average is $127.23 and its 200-day moving average is $110.21. The firm has a market cap of $2.10 billion, a P/E ratio of 27.61 and a beta of 0.94. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.17 and a current ratio of 1.21.

Formula Systems (1985) (NASDAQ:FORTY - Get Free Report) last released its quarterly earnings results on Tuesday, August 19th. The technology company reported $0.95 earnings per share (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 during the quarter.

Formula Systems (1985) Announces Dividend

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

Institutional Trading of Formula Systems (1985)

A hedge fund recently bought a new stake in Formula Systems (1985) stock. Raymond James Financial Inc. purchased a new stake in Formula Systems (1985) Ltd. (NASDAQ:FORTY - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 568 shares of the technology company's stock, valued at approximately $73,000. Hedge funds and other institutional investors own 34.76% of the company's stock.

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.