Formula Systems (1985) Ltd. (NASDAQ:FORTY) Declares $0.63 Variable Dividend

Formula Systems (1985) Ltd. (NASDAQ:FORTYGet Free Report) announced a Variable dividend on Tuesday, March 19th, Zacks reports. Investors of record on Thursday, April 4th will be paid a dividend of 0.63 per share by the technology company on Monday, April 29th. This represents a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, April 3rd.

Formula Systems (1985) has increased its dividend by an average of 6.9% per year over the last three years and has increased its dividend annually for the last 1 consecutive years.

Formula Systems (1985) Stock Down 4.8 %

NASDAQ:FORTY opened at $79.00 on Tuesday. The firm’s 50 day simple moving average is $73.48 and its 200 day simple moving average is $67.11. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.39 and a quick ratio of 1.35. Formula Systems has a one year low of $55.97 and a one year high of $83.19. The company has a market cap of $1.21 billion, a PE ratio of 19.13 and a beta of 1.08.

Formula Systems (1985) (NASDAQ:FORTYGet Free Report) last posted its earnings results on Tuesday, March 19th. The technology company reported $1.01 EPS for the quarter. Formula Systems (1985) had a net margin of 2.44% and a return on equity of 5.17%. The business had revenue of $640.29 million for the quarter.

Institutional Investors Weigh In On Formula Systems (1985)

Several hedge funds have recently added to or reduced their stakes in FORTY. BlackRock Inc. lifted its position in shares of Formula Systems (1985) by 9.7% in the 1st quarter. BlackRock Inc. now owns 1,956 shares of the technology company’s stock worth $197,000 after purchasing an additional 173 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Formula Systems (1985) by 7.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,303 shares of the technology company’s stock valued at $305,000 after acquiring an additional 286 shares in the last quarter. UBS Group AG bought a new stake in Formula Systems (1985) during the 3rd quarter valued at $119,000. Jane Street Group LLC bought a new stake in Formula Systems (1985) during the 3rd quarter valued at $294,000. Finally, FMR LLC increased its stake in Formula Systems (1985) by 78.8% during the 2nd quarter. FMR LLC now owns 18,409 shares of the technology company’s stock valued at $1,708,000 after purchasing an additional 8,116 shares in the last quarter. 34.76% of the stock is currently owned by institutional investors and hedge funds.

About Formula Systems (1985)

(Get Free Report)

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.

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Dividend History for Formula Systems (1985) (NASDAQ:FORTY)

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