Formula Systems (1985) (NASDAQ:FORTY) Trading 10.6% Higher - What's Next?

Key Points

• Formula Systems (1985) Ltd. stock saw a 10.6% increase in trading, reaching a last trade price of $156.87 after closing at $141.85.
• The company reported quarterly earnings of $0.95 per share with a revenue of $743.37 million, and also announced a quarterly dividend of $0.505 per share.
• Analyst ratings have fluctuated, with Wall Street Zen downgrading the stock from "strong-buy" to "buy," while the average rating remains at "Hold."

Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report) traded up 10.6% during mid-day trading on Thursday . The company traded as high as $142.15 and last traded at $156.87. 264 shares changed hands during mid-day trading, a decline of 42% from the average session volume of 456 shares. The stock had previously closed at $141.85.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Wall Street Zen cut shares of Formula Systems (1985) from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 21st. Weiss Ratings reissued a "hold (c-)" rating on shares of Formula Systems (1985) in a report on Wednesday. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Formula Systems (1985) presently has an average rating of "Hold".

Formula Systems (1985) Stock Performance

The stock has a fifty day moving average price of $129.54 and a two-hundred day moving average price of $113.45. The company has a market cap of $2.40 billion, a P/E ratio of 31.56 and a beta of 0.90. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.21 and a quick ratio of 1.17.

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 for the quarter. Formula Systems (1985) had a return on equity of 5.58% and a net margin of 2.70%.The company had revenue of $743.37 million for the quarter.

Formula Systems (1985) Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Shareholders 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 yield of 1.3%. The ex-dividend date is Tuesday, October 14th. Formula Systems (1985)'s dividend payout ratio is 26.76%.

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 position in Formula Systems (1985) Ltd. (NASDAQ:FORTY - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 568 shares of the technology company's stock, valued at approximately $73,000. 34.76% of the stock is owned by hedge funds and other institutional investors.

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.

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