Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Up – What’s Next?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares gapped up before the market opened on Friday . The stock had previously closed at $96.05, but opened at $101.83. Formula Systems (1985) shares last traded at $101.60, with a volume of 109 shares traded.

Formula Systems (1985) Stock Up 5.8%

The business’s fifty day simple moving average is $90.70 and its 200 day simple moving average is $90.29. The company has a current ratio of 1.41, a quick ratio of 1.38 and a debt-to-equity ratio of 0.22. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of 21.08 and a beta of 0.88.

Formula Systems (1985) (NASDAQ:FORTY) last released its earnings results on Thursday, March 20th. The technology company reported $1.28 EPS for the quarter. Formula Systems (1985) had a net margin of 2.78% and a return on equity of 5.68%. The firm had revenue of $691.50 million during the quarter.

Formula Systems (1985) Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Wednesday, April 30th will be issued a $0.6855 dividend. This is a positive change from Formula Systems (1985)’s previous semi-annual dividend of $0.63. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a dividend yield of 1%. Formula Systems (1985)’s payout ratio is 26.92%.

Hedge Funds Weigh In On Formula Systems (1985)

A hedge fund recently raised its stake in Formula Systems (1985) stock. Altshuler Shaham Ltd increased its stake in Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 7.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,385 shares of the technology company’s stock after purchasing an additional 450 shares during the period. Altshuler Shaham Ltd’s holdings in Formula Systems (1985) were worth $536,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds 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.