Formula Systems (1985) (NASDAQ:FORTY) Shares Down 8% – Here’s Why

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares dropped 8% during trading on Tuesday . The stock traded as low as $132.91 and last traded at $132.91. Approximately 598 shares were traded during trading, an increase of 2% from the average daily volume of 585 shares. The stock had previously closed at $144.48.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Friday, March 27th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, Formula Systems (1985) presently has an average rating of “Hold”.

Formula Systems (1985) Stock Performance

The company has a debt-to-equity ratio of 0.11, a current ratio of 1.63 and a quick ratio of 1.61. The stock’s 50-day moving average is $132.61 and its 200 day moving average is $146.12. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 3.46 and a beta of 1.17.

Formula Systems (1985) (NASDAQ:FORTY) last released its quarterly earnings data on Thursday, May 28th. The technology company reported $2.25 earnings per share (EPS) for the quarter. Formula Systems (1985) had a return on equity of 3.25% and a net margin of 20.89%.The firm had revenue of $738.29 million during the quarter.

Formula Systems (1985) Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 22nd will be paid a $13.045 dividend. The ex-dividend date is Friday, May 22nd. Formula Systems (1985)’s dividend payout ratio (DPR) is 28.28%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd increased its holdings in Formula Systems (1985) by 10.4% in 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 in the last quarter. Dimensional Fund Advisors LP boosted its stake 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 worth $391,000 after purchasing an additional 86 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new position in shares of Formula Systems (1985) in the first quarter valued at approximately $206,000. Finally, Raymond James Financial Inc. acquired a new stake in Formula Systems (1985) during the second quarter worth approximately $73,000. 34.76% of the stock is currently owned by institutional investors and hedge funds.

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.