Formula Systems (1985) (NASDAQ:FORTY) Share Price Breaks Below 200 Day Moving Average – Here’s What Happened

Formula Systems (1985) Ltd. (NASDAQ:FORTY) passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $125.58 and traded as low as $119.70. Formula Systems (1985) shares last traded at $122.00, with a volume of 6,769 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 Thursday, August 27th. One analyst has rated the stock with a Hold rating. According to MarketBeat.com, Formula Systems (1985) currently has a consensus rating of “Hold”.

Formula Systems (1985) Price Performance

The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.13. The company has a market cap of $1.87 billion, a P/E ratio of 3.06 and a beta of 1.25. The company has a fifty day moving average of $119.84 and a 200 day moving average of $125.33.

Formula Systems (1985) (NASDAQ:FORTY) last posted its quarterly earnings data on Wednesday, August 26th. The technology company reported $1.47 EPS for the quarter. Formula Systems (1985) had a return on equity of 4.38% and a net margin of 21.57%.

Formula Systems (1985) Dividend Announcement

The firm also recently declared a special dividend, which was paid on Friday, October 16th. Stockholders of record on Tuesday, September 22nd were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Tuesday, September 22nd. Formula Systems (1985)’s dividend payout ratio is presently 6.03%.

Hedge Funds Weigh In On Formula Systems (1985)

Institutional investors have recently made changes to their positions in the business. Elevation Point Wealth Partners LLC purchased a new position in shares of Formula Systems (1985) in the first quarter worth approximately $206,000. Altshuler Shaham Ltd grew its position in 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 period. Finally, Dimensional Fund Advisors LP increased its holdings in Formula Systems (1985) by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock valued at $391,000 after buying an additional 86 shares during the last quarter. Institutional investors own 34.76% of the company’s stock.

Formula Systems (1985) Company Profile

Formula Systems (1985) Ltd. is an Israel-based holding company that invests in and manages technology businesses. Established in 1985, the company focuses primarily on software, information technology services and technology-enabled business solutions through its principal operating subsidiaries.

Formula Systems’ portfolio includes Matrix IT, an Israeli provider of systems integration, consulting, outsourcing, cloud, cybersecurity and other information technology services; Magic Software Enterprises, which provides software development, digital transformation, cloud, data and application integration services; and Sapiens International, a provider of software platforms and solutions for the insurance, financial services and retirement markets.

Through these businesses, Formula Systems serves customers in Israel and international markets, including North America, Europe and the Asia-Pacific region.