Formula Systems (1985) (NASDAQ:FORTY) Shares Up 2.1% After Dividend Announcement

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY – Get Rating) shot up 2.1% during mid-day trading on Wednesday following a dividend announcement from the company. The company traded as high as $69.20 and last traded at $69.20. 221 shares were traded during trading, a decline of 59% from the average session volume of 535 shares. The stock had previously closed at $67.80.

The newly announced dividend which will be paid on Thursday, June 22nd. Shareholders of record on Monday, June 5th will be given a $0.446 dividend. This represents a yield of 1.5%. The ex-dividend date of this dividend is Friday, June 2nd. Formula Systems (1985)’s dividend payout ratio is 17.05%.

Formula Systems (1985) Trading Down 0.5 %

The firm has a market cap of $1.05 billion, a P/E ratio of 13.20 and a beta of 1.05. The company has a quick ratio of 1.34, a current ratio of 1.35 and a debt-to-equity ratio of 0.32. The firm’s 50-day simple moving average is $66.07 and its 200 day simple moving average is $72.31.

Formula Systems (1985) (NASDAQ:FORTY – Get Rating) last announced its quarterly earnings data on Thursday, March 16th. The technology company reported $1.00 EPS for the quarter. The business had revenue of $633.88 million for the quarter. Formula Systems (1985) had a net margin of 3.13% and a return on equity of 6.92%.

Institutional Trading of Formula Systems (1985)

Institutional investors have recently modified their holdings of the business. FMR LLC lifted its stake in shares of 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 buying an additional 8,116 shares in the last quarter. Jane Street Group LLC lifted its stake in shares of Formula Systems (1985) by 466.6% during the 1st quarter. Jane Street Group LLC now owns 11,462 shares of the technology company’s stock valued at $1,154,000 after buying an additional 9,439 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Formula Systems (1985) by 43.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,998 shares of the technology company’s stock valued at $392,000 after buying an additional 1,219 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Formula Systems (1985) by 9.7% during the 1st quarter. BlackRock Inc. now owns 1,956 shares of the technology company’s stock valued at $197,000 after buying an additional 173 shares in the last quarter. Finally, UBS Group AG purchased a new stake in shares of Formula Systems (1985) during the 3rd quarter valued at approximately $119,000. 0.29% of the stock is currently owned by hedge funds and other institutional investors.

Formula Systems (1985) Company Profile

(Get Rating)

Formula Systems (1985) Ltd. engages in the provision of software solutions and IT professional services. It operates through the following segments: Matrix, Sapiens, Magic Software, and Other. The company was founded on April 2, 1985 and is headquartered in Or Yehuda, Israel.