Formula Systems (1985) (NASDAQ:FORTY) Sees Unusually-High Trading Volume - Here's What Happened

Key Points

• Formula Systems’ trading volume surged 452% to 4,297 shares, while the stock fell to $122.30 from a prior close of $127.99.
• Analysts maintained a cautious stance: Weiss Ratings reiterated a “Hold (C)” rating, and the company has a consensus “Hold” rating from the one analyst covering it.
• The company reported quarterly EPS of $1.47 and recently paid a $1.63 special dividend; institutional investors own 34.76% of its shares.

Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report) saw unusually-strong trading volume on Thursday. 4,297 shares changed hands during trading, an increase of 452% from the average daily volume of 779 shares. The stock last traded at $122.30 and had previously closed at $127.99.

Wall Street Analyst Weigh In

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

Formula Systems (1985) Price Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.44 and a current ratio of 1.48. The stock's 50 day simple moving average is $119.61 and its two-hundred day simple moving average is $125.81. The firm has a market capitalization of $1.86 billion, a PE ratio of 3.04 and a beta of 1.21.

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

Formula Systems (1985) Dividend Announcement

The company also recently declared a special dividend, which was paid on Friday, October 16th. Stockholders of record on Tuesday, September 22nd were paid a $1.63 dividend. The ex-dividend date of this dividend was Tuesday, September 22nd. Formula Systems (1985)'s dividend payout ratio is 6.03%.

Institutional Investors Weigh In On Formula Systems (1985)

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FORTY. Altshuler Shaham Ltd raised its holdings in Formula Systems (1985) by 10.4% in the 1st quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company's stock valued at $926,000 after buying 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 first quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company's stock valued at $391,000 after buying an additional 86 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC acquired a new position in Formula Systems (1985) during the 1st quarter worth about $206,000. Hedge funds and other institutional investors own 34.76% of the company's stock.

About Formula Systems (1985)

Formula Systems (1985) Ltd. is an Israel-based holding company that invests in and manages technology businesses. Established in 1985, the company focuses primarily on software, information technology services and technology-enabled business solutions through its principal operating subsidiaries.

Formula Systems' portfolio includes Matrix IT, an Israeli provider of systems integration, consulting, outsourcing, cloud, cybersecurity and other information technology services; Magic Software Enterprises, which provides software development, digital transformation, cloud, data and application integration services; and Sapiens International, a provider of software platforms and solutions for the insurance, financial services and retirement markets.

Through these businesses, Formula Systems serves customers in Israel and international markets, including North America, Europe and the Asia-Pacific region.

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