Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Down – Time to Sell?

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) gapped down before the market opened on Thursday . The stock had previously closed at $119.11, but opened at $112.70. Formula Systems (1985) shares last traded at $112.70, with a volume of 785 shares.

Analyst Upgrades and Downgrades

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

Formula Systems (1985) Stock Performance

The company’s fifty day moving average price is $132.51 and its two-hundred day moving average price is $142.88. The company has a quick ratio of 1.66, a current ratio of 1.68 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 2.87 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 EPS for the quarter. The firm had revenue of $738.28 million for 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 disclosed a special dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 22nd were issued a $13.045 dividend. The ex-dividend date was Friday, May 22nd. Formula Systems (1985)’s dividend payout ratio is currently 2.72%.

Institutional Investors Weigh In On Formula Systems (1985)

Large investors have recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in shares of Formula Systems (1985) during the second quarter worth $73,000. Elevation Point Wealth Partners LLC bought a new position in Formula Systems (1985) during the 1st quarter worth about $206,000. Dimensional Fund Advisors LP raised its stake in shares of Formula Systems (1985) by 2.7% in 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 lifted 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 valued at $926,000 after purchasing an additional 727 shares in the last quarter. Institutional investors own 34.76% of the company’s stock.

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.