Formula Systems (1985) (NASDAQ:FORTY) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $116.37 and traded as high as $143.49. Formula Systems (1985) shares last traded at $146.93, with a volume of 742 shares trading hands.

Analyst Ratings Changes

FORTY has been the subject of several research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Formula Systems (1985) in a research note on Wednesday, October 8th. Wall Street Zen cut shares of Formula Systems (1985) from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 21st. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Formula Systems (1985) Trading Down 1.8%

The stock has a market cap of $2.25 billion, a PE ratio of 29.56 and a beta of 0.90. The company’s 50-day moving average price is $134.83 and its 200 day moving average price is $116.37. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.17 and a current ratio of 1.21.

Formula Systems (1985) (NASDAQ:FORTY) last released its quarterly earnings data on Tuesday, August 19th. The technology company reported $0.95 EPS for the quarter. Formula Systems (1985) had a return on equity of 5.58% and a net margin of 2.70%.The firm had revenue of $743.37 million for the quarter.

Formula Systems (1985) Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Tuesday, October 14th will be issued a $0.505 dividend. The ex-dividend date is Tuesday, October 14th. This represents a $2.02 dividend on an annualized basis and a yield of 1.4%. Formula Systems (1985)’s dividend payout ratio is currently 28.77%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Formula Systems (1985) stock. Elevation Point Wealth Partners LLC acquired a new stake in Formula Systems (1985) Ltd. (NASDAQ:FORTY) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,740 shares of the technology company’s stock, valued at approximately $222,000. 34.76% of the stock is owned by institutional investors and hedge funds.

About Formula Systems (1985)

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.