Formula Systems (1985) (NASDAQ:FORTY) Sets New 52-Week High – Should You Buy?

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $87.50 and last traded at $87.50, with a volume of 992 shares trading hands. The stock had previously closed at $83.93.

Formula Systems (1985) Stock Performance

The company has a market cap of $1.34 billion, a price-to-earnings ratio of 19.89 and a beta of 1.11. The company has a fifty day moving average of $77.45 and a two-hundred day moving average of $76.79. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.37 and a current ratio of 1.40.

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. Formula Systems (1985) had a return on equity of 5.21% and a net margin of 2.53%. The firm had revenue of $667.68 million for the quarter.

Formula Systems (1985) Increases Dividend

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

Institutional Trading of Formula Systems (1985)

A hedge fund recently raised its stake in Formula Systems (1985) stock. Altshuler Shaham Ltd lifted its stake in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 52.2% during the second quarter, according to its most recent 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 period. Altshuler Shaham Ltd’s holdings in Formula Systems (1985) were worth $478,000 at the end of the most recent reporting period. 34.76% of the stock is owned by hedge funds and other institutional investors.

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.