Formula Systems (1985) (NASDAQ:FORTY) Shares Down 4.6% – Here’s What Happened

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares fell 4.6% during trading on Wednesday . The stock traded as low as $87.22 and last traded at $85.30. 1,801 shares traded hands during mid-day trading, an increase of 112% from the average session volume of 850 shares. The stock had previously closed at $89.45.

Formula Systems (1985) Stock Performance

The company has a market cap of $1.32 billion, a P/E ratio of 17.90 and a beta of 1.10. The business has a 50 day moving average price of $93.28 and a two-hundred day moving average price of $87.62. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.41.

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

Formula Systems (1985) Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Wednesday, April 30th will be given a $0.6855 dividend. This is a boost from Formula Systems (1985)’s previous semi-annual dividend of $0.63. The ex-dividend date is Wednesday, April 30th. This represents a dividend yield of 1%. Formula Systems (1985)’s payout ratio is presently 26.92%.

Institutional Investors Weigh In On Formula Systems (1985)

A hedge fund recently raised its stake in Formula Systems (1985) stock. Altshuler Shaham Ltd boosted its stake in Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 7.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,385 shares of the technology company’s stock after buying an additional 450 shares during the period. Altshuler Shaham Ltd’s holdings in Formula Systems (1985) were worth $536,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 34.76% of the company’s stock.

About Formula Systems (1985)

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.