Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Down to $76.33

Formula Systems (1985) Ltd. (NASDAQ:FORTY) gapped down before the market opened on Tuesday . The stock had previously closed at $76.33, but opened at $73.28. Formula Systems (1985) shares last traded at $73.28, with a volume of 556 shares changing hands.

Formula Systems (1985) Stock Up 1.1 %

The company has a market cap of $1.14 billion, a P/E ratio of 17.56 and a beta of 1.11. The stock’s 50-day moving average price is $77.34 and its 200-day moving average price is $76.87. The company has a current ratio of 1.40, a quick ratio of 1.37 and a debt-to-equity ratio of 0.19.

Formula Systems (1985) (NASDAQ:FORTY) last released its quarterly 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 for the quarter. Formula Systems (1985) had a net margin of 2.53% and a return on equity of 5.21%.

Formula Systems (1985) Increases Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be given a dividend of $0.63 per share. This represents a dividend yield of 1.2%. This is an increase from Formula Systems (1985)’s previous Semi-Annual dividend of $0.45. The ex-dividend date of this dividend is Thursday, September 12th. Formula Systems (1985)’s dividend payout ratio (DPR) is presently 21.09%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Formula Systems (1985) stock. Altshuler Shaham Ltd raised its holdings in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 52.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,711 shares of the technology company’s stock after purchasing an additional 2,303 shares during the quarter. Altshuler Shaham Ltd’s holdings in Formula Systems (1985) were worth $478,000 as of its most recent filing with the Securities & Exchange Commission. 34.76% of the stock is owned by 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.