Formula Systems (1985) (NASDAQ:FORTY) Sees Large Volume Increase - Here's What Happened

Key Points

• Trading volume surged 659% to approximately 4,724 shares, while Formula Systems shares traded at $115.00, down from the prior close of $119.20.
• Analyst sentiment remains neutral: Weiss Ratings reiterated a “Hold (C)” rating, matching the company’s overall consensus “Hold” rating.
• Formula Systems reported quarterly EPS of $1.47 and declared a $1.63 special dividend, payable October 16 to shareholders of record September 22.

Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report) shares saw an uptick in trading volume on Friday. Approximately 4,724 shares were traded during mid-day trading, an increase of 659% from the previous session's volume of 622 shares. The stock last traded at $115.00 and had previously closed at $119.20.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "hold (c)" rating on shares of Formula Systems (1985) in a research note on Thursday, August 27th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of "Hold".

Formula Systems (1985) Price Performance

The company's 50 day moving average price is $115.94 and its 200-day moving average price is $122.22. The company has a market capitalization of $1.76 billion, a PE ratio of 2.89 and a beta of 1.21. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.13.

Formula Systems (1985) (NASDAQ:FORTY - Get Free Report) last issued its quarterly earnings data on Wednesday, August 26th. The technology company reported $1.47 EPS for the quarter. Formula Systems (1985) had a net margin of 21.57% and a return on equity of 4.38%.

Formula Systems (1985) Announces Dividend

The firm also recently declared a special dividend, which will be paid on Friday, October 16th. Shareholders of record on Tuesday, September 22nd will be given a $1.63 dividend. The ex-dividend date is Tuesday, September 22nd. Formula Systems (1985)'s payout ratio is 4.87%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Altshuler Shaham Ltd increased its position in Formula Systems (1985) by 10.4% during the first quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company's stock worth $926,000 after acquiring an additional 727 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Formula Systems (1985) by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company's stock valued at $391,000 after purchasing an additional 86 shares during the period. Finally, Elevation Point Wealth Partners LLC acquired a new position in Formula Systems (1985) during the first quarter worth $206,000. Institutional investors and hedge funds own 34.76% of the company's stock.

Formula Systems (1985) Company Profile

Formula Systems (1985) Ltd. is an Israeli information technology holding company that invests in and manages businesses providing software, technology consulting and information technology services. The company operates primarily through its subsidiaries and serves enterprises, government organizations and other institutions across a range of industries.

Its principal subsidiaries include Matrix IT, which provides information technology services, systems integration, consulting, outsourcing and cybersecurity solutions; Magic Software Enterprises, which develops application software and provides digital transformation, cloud, data and professional services; and Sapiens International, which supplies software platforms and related services for the insurance industry, including solutions for property and casualty, life and retirement insurance.

Founded in 1985, Formula Systems has expanded its activities beyond Israel through subsidiaries and operating units serving customers in North America, Europe, Israel and other international markets.

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