Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report)'s share price rose 9.6% during trading on Wednesday . The company traded as high as $113.30 and last traded at $122.00. Approximately 627 shares changed hands during trading, a decline of 32% from the average daily volume of 919 shares. The stock had previously closed at $111.30.
Wall Street Analyst Weigh In
Separately, Wall Street Zen lowered Formula Systems (1985) from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 21st.
Get Our Latest Research Report on Formula Systems (1985)
Formula Systems (1985) Trading Up 8.4%
The company has a fifty day simple moving average of $101.40 and a two-hundred day simple moving average of $94.79. The company has a quick ratio of 1.23, a current ratio of 1.26 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $1.88 billion, a P/E ratio of 23.47 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 earnings per share for the quarter. The firm had revenue of $754.68 million for the quarter. Formula Systems (1985) had a return on equity of 6.00% and a net margin of 2.91%.
Formula Systems (1985) Increases Dividend
The company 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. This represents a dividend yield of 1%. This is a positive change from Formula Systems (1985)'s previous semi-annual dividend of $0.69. The ex-dividend date of this dividend is Monday, July 7th. Formula Systems (1985)'s payout ratio is 27.20%.
Institutional Trading of Formula Systems (1985)
An institutional investor recently raised its position in Formula Systems (1985) stock. Altshuler Shaham Ltd grew its position in Formula Systems (1985) Ltd. (NASDAQ:FORTY - Free Report) by 7.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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
(
Get Free Report)
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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