Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Up to $70.52

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) gapped up prior to trading on Monday . The stock had previously closed at $70.52, but opened at $73.17. Formula Systems (1985) shares last traded at $73.17, with a volume of 406 shares trading hands.

Formula Systems (1985) Price Performance

The stock has a market cap of $1.12 billion, a P/E ratio of 16.71 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. The business’s fifty day moving average price is $77.08 and its 200 day moving average price is $76.81.

Formula Systems (1985) (NASDAQ:FORTY) last posted its quarterly earnings data on Tuesday, August 20th. The technology company reported $1.20 earnings per share for the quarter. The business 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 business also recently disclosed a Semi-Annual dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be issued a dividend of $0.63 per share. The ex-dividend date is Thursday, September 12th. This represents a dividend 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 currently 21.09%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Formula Systems (1985) stock. Clal Insurance Enterprises Holdings Ltd bought a new position in Formula Systems (1985) Ltd. (NASDAQ:FORTY) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 808,061 shares of the technology company’s stock, valued at approximately $53,581,000. Clal Insurance Enterprises Holdings Ltd owned approximately 5.27% of Formula Systems (1985) at the end of the most recent reporting period. 34.76% of the stock is currently owned by 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.