Formula Systems (1985) (NASDAQ:FORTY) Sets New 12-Month High – Here’s What Happened

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares hit a new 52-week high during mid-day trading on Saturday . The stock traded as high as $107.00 and last traded at $97.11, with a volume of 2113 shares traded. The stock had previously closed at $91.41.

Formula Systems (1985) Price Performance

The firm has a market capitalization of $1.49 billion, a P/E ratio of 20.15 and a beta of 0.88. The business’s 50-day simple moving average is $89.77 and its 200 day simple moving average is $89.65. The company has a quick ratio of 1.38, a current ratio of 1.41 and a debt-to-equity ratio of 0.22.

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

Formula Systems (1985) Increases Dividend

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

Hedge Funds Weigh In On Formula Systems (1985)

An institutional investor recently bought a new position in Formula Systems (1985) stock. Jane Street Group LLC purchased a new position in Formula Systems (1985) Ltd. (NASDAQ:FORTY) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,772 shares of the technology company’s stock, valued at approximately $222,000. 34.76% of the stock is currently owned by hedge funds and other 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.