Formula Systems (1985) (NASDAQ:FORTY) Stock Price Up 7.4% - Here's What Happened

Key Points

• Shares of Formula Systems (1985) Ltd. rose 7.4% to $118.24, despite a decrease in trading volume by 73% from the average.
• The company declared a semi-annual dividend of $0.9728, an increase from the previous $0.69, with a dividend yield of 100.0%.
• Analysts downgraded Formula Systems from a "strong-buy" to a "buy" rating, indicating a shift in market sentiment.

Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report)'s share price traded up 7.4% during trading on Friday . The company traded as high as $115.55 and last traded at $118.24. 271 shares were traded during mid-day trading, a decline of 73% from the average session volume of 996 shares. The stock had previously closed at $110.06.

Analysts Set New Price Targets

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

Formula Systems (1985) Stock Down 4.2%

The firm has a market capitalization of $1.70 billion, a P/E ratio of 21.22 and a beta of 0.93. The company has a current ratio of 1.26, a quick ratio of 1.23 and a debt-to-equity ratio of 0.16. The stock's 50-day simple moving average is $118.91 and its 200-day simple moving average is $101.69.

Formula Systems (1985) (NASDAQ:FORTY - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The technology company reported $1.23 earnings per share (EPS) 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 disclosed a semi-annual dividend, which was paid on Friday, August 1st. Stockholders of record on Monday, July 7th were issued a $0.9728 dividend. This represents a dividend yield of 100.0%. This is a positive change from Formula Systems (1985)'s previous semi-annual dividend of $0.69. The ex-dividend date was Monday, July 7th. Formula Systems (1985)'s payout ratio is currently 12.64%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Formula Systems (1985) stock. Altshuler Shaham Ltd raised its holdings in Formula Systems (1985) Ltd. (NASDAQ:FORTY - Free Report) by 7.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,385 shares of the technology company's stock after buying an additional 450 shares during the quarter. Altshuler Shaham Ltd's holdings in Formula Systems (1985) were worth $536,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 34.76% of the company's stock.

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.