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

Formula Systems (1985) Ltd. (NASDAQ:FORTY) gapped down before the market opened on Friday . The stock had previously closed at $138.25, but opened at $126.00. Formula Systems (1985) shares last traded at $126.00, with a volume of 228 shares.

Wall Street Analyst Weigh In

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

Formula Systems (1985) Price Performance

The stock has a fifty day simple moving average of $133.08 and a two-hundred day simple moving average of $145.42. The company has a market cap of $1.93 billion, a PE ratio of 3.21 and a beta of 1.17. The company has a current ratio of 1.68, a quick ratio of 1.66 and a debt-to-equity ratio of 0.12.

Formula Systems (1985) (NASDAQ:FORTY) last announced its quarterly earnings data on Thursday, May 28th. The technology company reported $2.25 earnings per share for the quarter. Formula Systems (1985) had a return on equity of 4.01% and a net margin of 21.58%.The company had revenue of $738.29 million for the quarter.

Formula Systems (1985) Dividend Announcement

The business also recently declared a special dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 22nd will be given a dividend of $13.045 per share. The ex-dividend date is Friday, May 22nd. Formula Systems (1985)’s dividend payout ratio (DPR) is presently 27.55%.

Institutional Investors Weigh In On Formula Systems (1985)

A number of hedge funds and other institutional investors have recently modified their holdings of FORTY. Elevation Point Wealth Partners LLC acquired a new position in shares of Formula Systems (1985) during the 1st quarter worth approximately $206,000. Altshuler Shaham Ltd raised its position 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 worth $1,182,000 after purchasing an additional 1,650 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Formula Systems (1985) during the 2nd quarter worth approximately $73,000. Finally, Dimensional Fund Advisors LP raised 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 worth $391,000 after purchasing an additional 86 shares during the last quarter. 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.