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

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) 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) Stock Performance

The firm’s 50 day moving average is $77.02 and its 200 day moving average is $76.74. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.40 and a quick ratio of 1.37. The company has a market cap of $1.26 billion, a PE ratio of 19.43 and a beta of 1.11.

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

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. This represents a dividend yield of 1.2%. The ex-dividend date of this dividend was Thursday, September 12th. This is an increase from Formula Systems (1985)’s previous Semi-Annual dividend of $0.45. Formula Systems (1985)’s dividend payout ratio (DPR) is 21.09%.

Hedge Funds Weigh In On Formula Systems (1985)

An institutional investor recently raised its position in Formula Systems (1985) stock. Altshuler Shaham Ltd lifted its position in Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 52.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,711 shares of the technology company’s stock after purchasing 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 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.