Formula Systems (1985) (NASDAQ:FORTY) Reaches New 12-Month High – What’s Next?

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $87.70 and last traded at $87.50, with a volume of 357 shares trading hands. The stock had previously closed at $86.56.

Formula Systems (1985) Price Performance

The stock has a market capitalization of $1.34 billion, a P/E ratio of 20.30 and a beta of 1.09. The company’s 50 day simple moving average is $79.02 and its two-hundred day simple moving average is $77.39. 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) last announced its earnings results on Tuesday, August 20th. The technology company reported $1.20 EPS for the quarter. Formula Systems (1985) had a return on equity of 5.21% and a net margin of 2.53%. The business had revenue of $667.68 million for the quarter.

Formula Systems (1985) Increases Dividend

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

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 position in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 52.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter. 34.76% of the stock is currently owned by institutional investors.

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.