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

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) gapped down before the market opened on Thursday . The stock had previously closed at $113.99, but opened at $106.14. Formula Systems (1985) shares last traded at $106.14, with a volume of 412 shares changing hands.

Formula Systems (1985) Stock Up 1.8%

The stock has a market capitalization of $1.66 billion, a P/E ratio of 2.75 and a beta of 1.21. 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 stock has a fifty day moving average price of $115.57 and a 200 day moving average price of $129.27.

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. The company had revenue of $738.29 million for the quarter. Formula Systems (1985) had a return on equity of 4.01% and a net margin of 21.58%.

Formula Systems (1985) Dividend Announcement

The business also recently declared a special dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 22nd were given a dividend of $13.045 per share. The ex-dividend date was Friday, May 22nd. Formula Systems (1985)’s dividend payout ratio is currently 1.88%.

Hedge Funds Weigh In On Formula Systems (1985)

Large investors have recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in Formula Systems (1985) during the 2nd quarter worth approximately $73,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Formula Systems (1985) during the 1st quarter valued at $206,000. Dimensional Fund Advisors LP grew 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 in the last quarter. Finally, Altshuler Shaham Ltd increased its holdings in shares of Formula Systems (1985) by 10.4% in the first quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock worth $926,000 after purchasing an additional 727 shares during the period. 34.76% of the stock is currently owned by 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.