Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Down – What’s Next?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) gapped down before the market opened on Monday . The stock had previously closed at $124.95, but opened at $112.45. Formula Systems (1985) shares last traded at $112.32, with a volume of 1,080 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Formula Systems (1985) in a report on Friday. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Formula Systems (1985) Stock Performance

The firm has a market cap of $1.72 billion, a P/E ratio of 2.93 and a beta of 1.12. The company has a current ratio of 1.63, a quick ratio of 1.61 and a debt-to-equity ratio of 0.07. The company’s 50-day moving average is $135.63 and its two-hundred day moving average is $148.84.

Formula Systems (1985) (NASDAQ:FORTY) last issued its quarterly earnings data on Thursday, March 26th. The technology company reported $35.03 EPS for the quarter. The firm had revenue of $708.38 million during the quarter. Formula Systems (1985) had a return on equity of 3.24% and a net margin of 20.89%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FORTY. Elevation Point Wealth Partners LLC purchased a new position in Formula Systems (1985) during the second quarter worth about $222,000. Raymond James Financial Inc. bought a new position in shares of Formula Systems (1985) during the 2nd quarter worth approximately $73,000. Altshuler Shaham Ltd boosted its stake in shares of Formula Systems (1985) by 30.8% in the 4th quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company’s stock worth $1,182,000 after buying an additional 1,650 shares during the last quarter. GHP Investment Advisors Inc. boosted its stake in shares of Formula Systems (1985) by 10.8% in the 3rd quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock worth $1,082,000 after buying an additional 755 shares during the last quarter. Finally, CX Institutional bought a new position in shares of Formula Systems (1985) in the third quarter valued at approximately $398,000. 34.76% of the stock is owned by institutional investors.

About Formula Systems (1985)

Formula Systems (1985) Ltd is an Israeli publicly traded holding company specializing in the software and information technology sectors. Founded in 1985 and listed on NASDAQ under the ticker FORTY, the company focuses on acquiring, investing in and developing independent software firms. Its core mission is to foster innovation in enterprise software, cybersecurity and digital transformation solutions.

The company’s principal activities center on holding controlling and significant equity stakes in several market-leading software enterprises.