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

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares gapped down before the market opened on Wednesday . The stock had previously closed at $111.03, but opened at $106.80. Formula Systems (1985) shares last traded at $106.80, with a volume of 479 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued 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, According to MarketBeat, the stock presently has an average rating of “Hold”.

Formula Systems (1985) Stock Performance

The business has a fifty day simple moving average of $124.69 and a two-hundred day simple moving average of $134.87. The company has a market cap of $1.64 billion, a P/E ratio of 2.72 and a beta of 1.21. The company has a quick ratio of 1.66, a current ratio of 1.68 and a debt-to-equity ratio of 0.12.

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

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 given a $13.045 dividend. The ex-dividend date was Friday, May 22nd. Formula Systems (1985)’s dividend payout ratio is presently 1.88%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new stake in Formula Systems (1985) in the 2nd quarter worth approximately $73,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Formula Systems (1985) in the first quarter worth $206,000. Dimensional Fund Advisors LP raised its position in shares of 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 purchasing an additional 86 shares during the period. Finally, Altshuler Shaham Ltd boosted its holdings in Formula Systems (1985) by 10.4% in the 1st quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock worth $926,000 after buying an additional 727 shares during the period. 34.76% of the stock is owned by hedge funds and other institutional investors.

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.