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Formula Systems (1985) Ltd. (NASDAQ:FORTY – Get Free Report) gapped up prior to trading on Wednesday. The stock had previously closed at $111.50, but opened at $114.98. Formula Systems (1985) shares last traded at $114.59, with a volume of 581 shares trading hands.
Analyst Ratings Changes
Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Formula Systems (1985) in a research note on Thursday, August 27th. One research analyst has rated the stock with a Hold rating. According to data from MarketBeat, the company currently has a consensus rating of “Hold”.
Get Our Latest Research Report on FORTY
Formula Systems (1985) Stock Performance
The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.13. The stock has a fifty day simple moving average of $117.84 and a 200-day simple moving average of $120.95. The company has a market capitalization of $1.76 billion, a P/E ratio of 24.28 and a beta of 1.25.
Formula Systems (1985) (NASDAQ:FORTY – Get Free Report) last posted its earnings results on Wednesday, August 26th. The technology company reported $1.47 earnings per share for the quarter. Formula Systems (1985) had a net margin of 21.57% and a return on equity of 4.38%.
Formula Systems (1985) Dividend Announcement
The business also recently declared a special dividend, which will be paid on Friday, October 16th. Investors of record on Tuesday, September 22nd will be issued a $1.63 dividend. The ex-dividend date of this dividend is Tuesday, September 22nd. Formula Systems (1985)’s dividend payout ratio (DPR) is currently 6.03%.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of FORTY. Dimensional Fund Advisors LP lifted its holdings in Formula Systems (1985) by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock worth $391,000 after buying an additional 86 shares in the last quarter. Altshuler Shaham Ltd grew its position in shares of Formula Systems (1985) by 10.4% during the 1st quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock worth $926,000 after buying an additional 727 shares during the period. Finally, Elevation Point Wealth Partners LLC acquired a new position in Formula Systems (1985) in the first quarter valued at approximately $206,000. 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 operates through a group of technology and information-services businesses. Rather than developing a single product line, Formula Systems invests in and manages companies that provide software, consulting, systems integration, information technology services and other enterprise technology solutions.
Its principal subsidiaries include Matrix IT, a provider of information technology services, consulting, outsourcing, systems integration and training; Sapiens International, which develops software platforms and solutions for the insurance industry; and Magic Software Enterprises, which provides application development, digital transformation, integration, cloud and information technology services.
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