Formula Systems (1985) (NASDAQ:FORTY) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $119.21 and traded as high as $148.00. Formula Systems (1985) shares last traded at $152.00, with a volume of 334 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Formula Systems (1985) in a research report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, Formula Systems (1985) has an average rating of “Hold”.

Formula Systems (1985) Trading Up 7.2%

The firm has a market capitalization of $2.33 billion, a PE ratio of 30.58 and a beta of 0.90. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.17 and a current ratio of 1.21. The stock’s 50-day simple moving average is $137.82 and its 200-day simple moving average is $119.21.

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

Formula Systems (1985) Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Tuesday, October 14th will be issued a dividend of $0.505 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Tuesday, October 14th. Formula Systems (1985)’s payout ratio is 28.77%.

Institutional Trading of Formula Systems (1985)

A number of hedge funds have recently modified their holdings of FORTY. Elevation Point Wealth Partners LLC bought a new stake in shares of Formula Systems (1985) during the 2nd quarter valued at $222,000. Raymond James Financial Inc. bought a new stake in shares of Formula Systems (1985) during the 2nd quarter valued at $73,000. Finally, CX Institutional bought a new stake in shares of Formula Systems (1985) during the 3rd quarter valued at $398,000. Institutional investors own 34.76% of the company’s stock.

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.