Formula Systems (1985) (NASDAQ:FORTY) Stock Price Down 7.2% – Should You Sell?

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) were down 7.2% during trading on Tuesday . The stock traded as low as $115.92 and last traded at $115.92. Approximately 179 shares changed hands during trading, a decline of 68% from the average daily volume of 568 shares. The stock had previously closed at $124.95.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Formula Systems (1985) in a research note on Friday. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Formula Systems (1985) has an average rating of “Hold”.

Formula Systems (1985) Stock Up 4.3%

The business has a 50 day simple moving average of $134.53 and a 200 day simple moving average of $148.63. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.63 and a quick ratio of 1.61. The stock has a market cap of $1.80 billion, a PE ratio of 3.07 and a beta of 1.13.

Formula Systems (1985) (NASDAQ:FORTY) last posted its quarterly earnings results on Thursday, March 26th. The technology company reported $35.03 earnings per share for the quarter. The company had revenue of $708.38 million during the quarter. Formula Systems (1985) had a return on equity of 3.24% and a net margin of 20.89%.

Institutional Trading of Formula Systems (1985)

Institutional investors have recently added to or reduced their stakes in the business. Elevation Point Wealth Partners LLC bought a new stake in Formula Systems (1985) in the second quarter worth approximately $222,000. Raymond James Financial Inc. bought a new position in shares of Formula Systems (1985) during the 2nd quarter valued at $73,000. Altshuler Shaham Ltd raised its holdings in shares of Formula Systems (1985) by 30.8% during the 4th quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company’s stock valued at $1,182,000 after purchasing an additional 1,650 shares in the last quarter. GHP Investment Advisors Inc. lifted its stake in shares of Formula Systems (1985) by 10.8% in the 3rd quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock valued at $1,082,000 after purchasing an additional 755 shares during the last quarter. Finally, CX Institutional acquired a new stake in shares of Formula Systems (1985) in the 3rd quarter valued at $398,000. 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.