Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Up – Still a Buy?

by · The Markets Daily

Formula Systems (1985) Ltd. (NASDAQ:FORTY – Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $78.00, but opened at $82.00. Formula Systems (1985) shares last traded at $82.00, with a volume of 460 shares trading hands.

Formula Systems (1985) Trading Up 5.1 %

The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.37 and a current ratio of 1.40. The business’s 50-day moving average is $76.74 and its two-hundred day moving average is $76.67. The stock has a market capitalization of $1.26 billion, a PE ratio of 18.48 and a beta of 1.11.

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

Formula Systems (1985) Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were issued a dividend of $0.63 per share. The ex-dividend date was Thursday, September 12th. This is a boost from Formula Systems (1985)’s previous Semi-Annual dividend of $0.45. This represents a yield of 1.2%. Formula Systems (1985)’s payout ratio is currently 21.09%.

Institutional Investors Weigh In On Formula Systems (1985)

A hedge fund recently raised its stake in Formula Systems (1985) stock. Altshuler Shaham Ltd increased 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 Form 13F filing with the SEC. The fund owned 6,711 shares of the technology company’s stock after acquiring an additional 2,303 shares during the quarter. Altshuler Shaham Ltd’s holdings in Formula Systems (1985) were worth $478,000 as of its most recent filing with the SEC. 34.76% of the stock is owned by institutional investors.

About Formula Systems (1985)

(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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