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Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY – Get Free Report) rose 8.7% on Tuesday. The stock traded as high as $127.28 and last traded at $127.28. 807 shares traded hands during mid-day trading, a decline of 4% from the average daily volume of 838 shares. The stock had previously closed at $117.05.
Analyst Ratings Changes
Separately, Weiss Ratings reissued 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold”.
Check Out Our Latest Stock Analysis on FORTY
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 company’s 50 day moving average price is $119.31 and its 200-day moving average price is $123.74. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 3.20 and a beta of 1.23.
Formula Systems (1985) (NASDAQ:FORTY – Get Free Report) last issued 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) Announces Dividend
The business also recently declared a special dividend, which was paid on Friday, October 16th. Investors 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 (DPR) is currently 6.03%.
Institutional Inflows and Outflows
An institutional investor recently raised its stake in Formula Systems (1985) stock. Dimensional Fund Advisors LP boosted its position in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY – Free Report) by 2.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,315 shares of the technology company’s stock after purchasing an additional 86 shares during the period. Dimensional Fund Advisors LP’s holdings in Formula Systems (1985) were worth $391,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 34.76% of the company’s stock.
Formula Systems (1985) Company Profile
Formula Systems (1985) Ltd. is an Israel-based holding company focused on software and information technology services. Through its subsidiaries, it provides software development, systems integration, IT consulting and outsourcing, and business software for areas including insurance and financial services. Its principal subsidiaries include Matrix IT, Sapiens International and Magic Software Enterprises. Their offerings span technology services and digital solutions, insurance and financial software, and application development and integration platforms.
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