Formula Systems (1985) (NASDAQ:FORTY) Sees Strong Trading Volume – Here’s What Happened

Formula Systems (1985) Ltd. (NASDAQ:FORTY) saw strong trading volume on Wednesday . 4,789 shares changed hands during trading, an increase of 472% from the previous session’s volume of 837 shares.The stock last traded at $87.29 and had previously closed at $93.75.

Formula Systems (1985) Stock Up 0.4 %

The business’s 50 day simple moving average is $93.42 and its 200 day simple moving average is $87.22. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.41 and a quick ratio of 1.38. The company has a market capitalization of $1.38 billion, a PE ratio of 18.63 and a beta of 1.10.

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

Formula Systems (1985) Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Tuesday, May 27th. Investors of record on Wednesday, April 30th will be issued a $0.6855 dividend. This represents a yield of 1%. The ex-dividend date of this dividend is Wednesday, April 30th. This is an increase from Formula Systems (1985)’s previous semi-annual dividend of $0.63. Formula Systems (1985)’s dividend payout ratio (DPR) is 17.49%.

Hedge Funds Weigh In On Formula Systems (1985)

An institutional investor recently raised its position in Formula Systems (1985) stock. Altshuler Shaham Ltd raised its position in Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 7.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,385 shares of the technology company’s stock after acquiring an additional 450 shares during the quarter. Altshuler Shaham Ltd’s holdings in Formula Systems (1985) were worth $536,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 34.76% of the company’s stock.

Formula Systems (1985) Company Profile

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.