Formula Systems (1985) (NASDAQ:FORTY) Reaches New 1-Year High – Here’s What Happened

by · The Markets Daily

Formula Systems (1985) Ltd. (NASDAQ:FORTY – Get Free Report) hit a new 52-week high on Thursday . The company traded as high as $87.70 and last traded at $87.50, with a volume of 357 shares traded. The stock had previously closed at $86.56.

Formula Systems (1985) Price Performance

The firm has a 50-day moving average of $78.59 and a 200 day moving average of $77.23. The company has a market capitalization of $1.34 billion, a PE ratio of 20.30 and a beta of 1.09. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.40 and a quick ratio of 1.37.

Formula Systems (1985) (NASDAQ:FORTY – Get Free Report) last issued its quarterly earnings data on Tuesday, August 20th. The technology company reported $1.20 earnings per share for the quarter. Formula Systems (1985) had a net margin of 2.53% and a return on equity of 5.21%. The company had revenue of $667.68 million for the quarter.

Formula Systems (1985) Increases Dividend

The firm also recently declared a Semi-Annual dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were given a dividend of $0.63 per share. The ex-dividend date was Thursday, September 12th. This represents a dividend yield of 1.2%. This is a positive change from Formula Systems (1985)’s previous Semi-Annual dividend of $0.45. Formula Systems (1985)’s dividend payout ratio is presently 20.88%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Formula Systems (1985) stock. Altshuler Shaham Ltd boosted its position in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY – Free Report) by 52.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,711 shares of the technology company’s stock after acquiring an additional 2,303 shares during the period. Altshuler Shaham Ltd’s holdings in Formula Systems (1985) were worth $478,000 at the end of the most recent quarter. Institutional investors own 34.76% of the company’s stock.

Formula Systems (1985) Company Profile

(Get Free Report)

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.

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