Formula Systems (1985) (NASDAQ:FORTY) Stock Price Down 9.9% - What's Next?

Key Points

• Formula Systems (1985) Ltd.'s stock price decreased by 9.9% on a recent trading day, closing at $113.08 after dipping to a low of $123.00, with trading volume down by 46% from the daily average.
• Wall Street Zen downgraded the company's shares from a "strong-buy" to a "buy" rating, indicating a shift in analyst sentiment.
• The company declared a semi-annual dividend increase to $0.9728 per share, representing a yield of 100%, up from the previous $0.69.

Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report)'s share price was down 9.9% during mid-day trading on Monday . The company traded as low as $123.00 and last traded at $113.08. Approximately 337 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 629 shares. The stock had previously closed at $125.50.

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) Stock Up 0.1%

The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.23 and a current ratio of 1.26. The business has a 50 day simple moving average of $120.26 and a 200-day simple moving average of $103.31. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 23.59 and a beta of 0.93.

Formula Systems (1985) (NASDAQ:FORTY - Get Free Report) last posted its earnings results on Thursday, May 22nd. The technology company reported $1.23 EPS for the quarter. Formula Systems (1985) had a return on equity of 6.00% and a net margin of 2.91%. The company had revenue of $754.68 million for the quarter.

Formula Systems (1985) Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Friday, August 1st. Stockholders of record on Monday, July 7th were given a dividend of $0.9728 per share. This is a boost from Formula Systems (1985)'s previous semi-annual dividend of $0.69. This represents a dividend yield of 100.0%. The ex-dividend date of this dividend was Monday, July 7th. Formula Systems (1985)'s dividend payout ratio is currently 12.64%.

Institutional Investors Weigh In On Formula Systems (1985)

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