Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Up – Here’s What Happened

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $83.80, but opened at $87.70. Formula Systems (1985) shares last traded at $84.19, with a volume of 1,596 shares trading hands.

Formula Systems (1985) Stock Up 0.5 %

The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 17.47 and a beta of 1.02. The company has a quick ratio of 1.38, a current ratio of 1.41 and a debt-to-equity ratio of 0.22. The stock has a 50 day moving average price of $93.16 and a 200 day moving average price of $88.09.

Formula Systems (1985) (NASDAQ:FORTY) last posted 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 business had revenue of $691.50 million for the quarter.

Formula Systems (1985) Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Tuesday, May 27th. Investors 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. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a dividend yield of 1%. Formula Systems (1985)’s payout ratio is currently 26.92%.

Institutional Investors Weigh In On Formula Systems (1985)

An institutional investor recently bought a new position in Formula Systems (1985) stock. Jane Street Group LLC acquired a new stake in Formula Systems (1985) Ltd. (NASDAQ:FORTY) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 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.