Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Down – Should You Sell?

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $170.01, but opened at $163.27. Formula Systems (1985) shares last traded at $161.0250, with a volume of 297 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Formula Systems (1985) Trading Up 0.3%

The firm has a market cap of $2.50 billion, a price-to-earnings ratio of 37.57 and a beta of 1.06. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.58 and a current ratio of 1.60. The company has a 50 day moving average price of $168.23 and a 200 day moving average price of $146.09.

Formula Systems (1985) (NASDAQ:FORTY) last issued its quarterly earnings data on Thursday, November 20th. The technology company reported $0.73 earnings per share (EPS) for the quarter. The firm had revenue of $696.64 million for the quarter. Formula Systems (1985) had a net margin of 2.49% and a return on equity of 4.55%.

Formula Systems (1985) Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Tuesday, December 30th will be given a dividend of $0.5021 per share. The ex-dividend date of this dividend is Tuesday, December 30th. This represents a $2.01 dividend on an annualized basis and a dividend yield of 1.2%. Formula Systems (1985)’s dividend payout ratio (DPR) is presently 32.60%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FORTY. GHP Investment Advisors Inc. grew its stake in shares of Formula Systems (1985) by 10.8% in the third quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock valued at $1,082,000 after buying an additional 755 shares in the last quarter. CX Institutional purchased a new position in Formula Systems (1985) during the 3rd quarter valued at about $398,000. Raymond James Financial Inc. acquired a new position in Formula Systems (1985) in the 2nd quarter valued at about $73,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in Formula Systems (1985) during the second quarter worth about $222,000. 34.76% of the stock is currently owned by institutional investors and hedge funds.

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.