Formula Systems (1985) (NASDAQ:FORTY) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) saw strong trading volume on Monday . 545 shares were traded during mid-day trading, an increase of 92% from the previous session’s volume of 284 shares.The stock last traded at $177.06 and had previously closed at $165.93.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Formula Systems (1985) Trading Up 6.0%

The business has a 50 day moving average of $166.36 and a two-hundred day moving average of $144.63. The firm has a market cap of $2.61 billion, a P/E ratio of 38.75 and a beta of 1.06. The company has a current ratio of 1.60, a quick ratio of 1.58 and a debt-to-equity ratio of 0.15.

Formula Systems (1985) (NASDAQ:FORTY) last released its quarterly earnings data on Thursday, November 20th. The technology company reported $0.73 EPS for the quarter. The firm had revenue of $696.64 million for the quarter. Formula Systems (1985) had a net margin of 2.49% and a return on equity of 4.55%.

Formula Systems (1985) Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Tuesday, December 30th will be paid a $0.5021 dividend. The ex-dividend date is Tuesday, December 30th. This represents a $2.01 annualized dividend and a yield of 1.1%. Formula Systems (1985)’s payout ratio is 31.50%.

Institutional Investors Weigh In On Formula Systems (1985)

Hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in shares of Formula Systems (1985) in the second quarter valued at about $73,000. Elevation Point Wealth Partners LLC bought a new position in shares of Formula Systems (1985) during the second quarter worth approximately $222,000. CX Institutional acquired a new stake in shares of Formula Systems (1985) in the third quarter valued at approximately $398,000. Finally, GHP Investment Advisors Inc. raised its position in shares of Formula Systems (1985) by 10.8% in the third quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock valued at $1,082,000 after buying an additional 755 shares in the last quarter. Institutional investors and hedge funds own 34.76% of the company’s stock.

About Formula Systems (1985)

Formula Systems (1985) Ltd is an Israeli publicly traded holding company specializing in the software and information technology sectors. Founded in 1985 and listed on NASDAQ under the ticker FORTY, the company focuses on acquiring, investing in and developing independent software firms. Its core mission is to foster innovation in enterprise software, cybersecurity and digital transformation solutions.

The company’s principal activities center on holding controlling and significant equity stakes in several market-leading software enterprises.