Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report)'s stock price shot up 9.6% on Wednesday . The company traded as high as $113.30 and last traded at $122.00. 627 shares traded hands during trading, a decline of 32% from the average session volume of 919 shares. The stock had previously closed at $111.30.
Wall Street Analyst Weigh In
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.
Check Out Our Latest Research Report on FORTY
Formula Systems (1985) Trading Up 8.4%
The company has a debt-to-equity ratio of 0.16, a current ratio of 1.26 and a quick ratio of 1.23. The firm's 50 day moving average price is $102.16 and its 200 day moving average price is $94.97. 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 announced its quarterly earnings results on Thursday, May 22nd. The technology company reported $1.23 earnings per share (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 will be paid on Friday, August 1st. Investors of record on Monday, July 7th will be paid a $0.9728 dividend. 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. This represents a yield of 1%. Formula Systems (1985)'s dividend payout ratio (DPR) is presently 27.20%.
Institutional Investors Weigh In On Formula Systems (1985)
An institutional investor recently raised its position in Formula Systems (1985) stock. Altshuler Shaham Ltd lifted its position in Formula Systems (1985) Ltd. (NASDAQ:FORTY - Free Report) by 7.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,385 shares of the technology company's stock after acquiring an additional 450 shares during the period. Altshuler Shaham Ltd's holdings in Formula Systems (1985) were worth $536,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 34.76% of the company's stock.
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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