Formula Systems (1985) (NASDAQ:FORTY) Share Price Passes Above 200 Day Moving Average - Here's Why

Key Points

• Formula Systems (1985) Ltd. stock surpassed its 200-day moving average of $104.89, reaching a peak of $130.55 during trading.
• The company was recently downgraded from a "strong-buy" to a "buy" rating by Wall Street Zen.
• Formula Systems reported a quarterly revenue of $743.37 million, with earnings per share of $0.95 and a return on equity of 5.58%.

Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $104.89 and traded as high as $130.55. Formula Systems (1985) shares last traded at $130.18, with a volume of 155 shares.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Formula Systems (1985) from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 21st.

Formula Systems (1985) Stock Performance

The company has a 50-day simple moving average of $124.03 and a two-hundred day simple moving average of $105.79. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.17 and a current ratio of 1.21. The firm has a market capitalization of $1.90 billion, a P/E ratio of 24.87 and a beta of 0.94.

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

Formula Systems (1985) Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Tuesday, October 14th will be given a $0.505 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, October 14th. Formula Systems (1985)'s 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 purchased a new position in Formula Systems (1985) Ltd. (NASDAQ:FORTY - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,740 shares of the technology company's stock, valued at approximately $222,000. 34.76% of the stock is currently owned by hedge funds and other institutional investors.

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.