Formula Systems (1985) (NASDAQ:FORTY) Downgraded by Wall Street Zen to Buy

Wall Street Zen cut shares of Formula Systems (1985) (NASDAQ:FORTYFree Report) from a strong-buy rating to a buy rating in a report published on Saturday morning.

Formula Systems (1985) Stock Performance

Shares of Formula Systems (1985) stock opened at $115.77 on Friday. The company has a 50 day moving average price of $98.88 and a 200 day moving average price of $94.13. The firm has a market capitalization of $1.77 billion, a P/E ratio of 22.18 and a beta of 0.93. The company has a quick ratio of 1.23, a current ratio of 1.26 and a debt-to-equity ratio of 0.16. Formula Systems has a 52 week low of $69.28 and a 52 week high of $113.30.

Formula Systems (1985) (NASDAQ:FORTYGet Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The technology company reported $1.23 EPS for the quarter. The business had revenue of $754.68 million during the quarter. Formula Systems (1985) had a net margin of 2.91% and a return on equity of 6.00%.

Formula Systems (1985) Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Friday, August 1st. Investors of record on Monday, July 7th will be issued a $0.9728 dividend. This represents a yield of 1%. The ex-dividend date is Monday, July 7th. This is an increase from Formula Systems (1985)’s previous semi-annual dividend of $0.69. Formula Systems (1985)’s dividend payout ratio is 27.20%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Formula Systems (1985) stock. Altshuler Shaham Ltd boosted its stake in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTYFree Report) by 7.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,385 shares of the technology company’s stock after acquiring an additional 450 shares during the quarter. Altshuler Shaham Ltd’s holdings in Formula Systems (1985) were worth $536,000 at the end of the most recent reporting period. 34.76% of the stock is owned by hedge funds and other institutional investors.

Formula Systems (1985) Company Profile

(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.

See Also

Receive News & Ratings for Formula Systems (1985) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Formula Systems (1985) and related companies with MarketBeat.com's FREE daily email newsletter.