Formula Systems (1985) (NASDAQ:FORTY) Reaches New 1-Year Low – What’s Next?

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s stock price reached a new 52-week low during trading on Tuesday . The company traded as low as $106.50 and last traded at $106.50, with a volume of 208 shares. The stock had previously closed at $108.49.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Formula Systems (1985) in a report on Friday, March 27th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Formula Systems (1985) currently has a consensus rating of “Hold”.

Formula Systems (1985) Stock Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.68 and a quick ratio of 1.66. The company’s fifty day simple moving average is $131.64 and its two-hundred day simple moving average is $141.52. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 2.71 and a beta of 1.17.

Formula Systems (1985) (NASDAQ:FORTY) last issued its quarterly earnings data on Thursday, May 28th. The technology company reported $2.25 earnings per share (EPS) for the quarter. The firm had revenue of $738.28 million during the quarter. Formula Systems (1985) had a net margin of 21.58% and a return on equity of 4.01%.

Formula Systems (1985) Dividend Announcement

The business also recently declared a special dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 22nd were paid a dividend of $13.045 per share. The ex-dividend date was Friday, May 22nd. Formula Systems (1985)’s payout ratio is 2.72%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FORTY. Altshuler Shaham Ltd boosted its position in shares of Formula Systems (1985) by 10.4% during the first quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock valued at $926,000 after buying an additional 727 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Formula Systems (1985) by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock valued at $391,000 after acquiring an additional 86 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in Formula Systems (1985) during the 1st quarter valued at $206,000. Finally, Raymond James Financial Inc. purchased a new position in Formula Systems (1985) during the 2nd quarter worth $73,000. Institutional investors own 34.76% of the company’s stock.

Formula Systems (1985) Company Profile

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.