Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Down to $78.71

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $78.71, but opened at $74.79. Formula Systems (1985) shares last traded at $74.00, with a volume of 483 shares trading hands.

Formula Systems (1985) Stock Down 0.0 %

The firm’s 50 day moving average is $77.26 and its two-hundred day moving average is $76.91. The firm has a market capitalization of $1.15 billion, a P/E ratio of 17.75 and a beta of 1.11. 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 posted its earnings results on Tuesday, August 20th. The technology company reported $1.20 earnings per share for the quarter. The company had revenue of $667.68 million during 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 declared a Semi-Annual dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be issued a $0.63 dividend. The ex-dividend date is Thursday, September 12th. This represents a yield of 1.2%. This is a positive change from Formula Systems (1985)’s previous Semi-Annual dividend of $0.45. Formula Systems (1985)’s dividend payout ratio is presently 10.43%.

Hedge Funds Weigh In On Formula Systems (1985)

An institutional investor recently raised its position in Formula Systems (1985) stock. Altshuler Shaham Ltd increased its stake in Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 52.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,711 shares of the technology company’s stock after purchasing an additional 2,303 shares during the period. Altshuler Shaham Ltd’s holdings in Formula Systems (1985) were worth $478,000 as of its most recent SEC filing. 34.76% of the stock is currently owned by institutional investors and hedge funds.

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.