Formula Systems (1985) (NASDAQ:FORTY) Reaches New 12-Month Low – Here’s What Happened

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $102.79 and last traded at $102.79, with a volume of 253 shares trading hands. The stock had previously closed at $106.50.

Analyst Ratings Changes

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

Formula Systems (1985) Trading Down 3.3%

The firm has a market cap of $1.58 billion, a P/E ratio of 2.62 and a beta of 1.17. The firm’s fifty day moving average is $130.79 and its two-hundred day moving average is $140.63. The company has a quick ratio of 1.66, a current ratio of 1.68 and a debt-to-equity ratio of 0.12.

Formula Systems (1985) (NASDAQ:FORTY) last posted its earnings results on Thursday, May 28th. The technology company reported $2.25 EPS for the quarter. The firm had revenue of $738.28 million during 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 company also recently disclosed a special dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 22nd were given a dividend of $13.045 per share. The ex-dividend date of this dividend was Friday, May 22nd. Formula Systems (1985)’s payout ratio is presently 2.72%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in shares of Formula Systems (1985) during the second quarter valued at approximately $73,000. Elevation Point Wealth Partners LLC bought a new position in Formula Systems (1985) in the first quarter worth $206,000. Dimensional Fund Advisors LP lifted its position in Formula Systems (1985) by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock valued at $391,000 after buying an additional 86 shares during the period. Finally, Altshuler Shaham Ltd boosted its holdings in shares of Formula Systems (1985) by 10.4% during the 1st quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock valued at $926,000 after buying an additional 727 shares in the last quarter. Institutional investors own 34.76% of the company’s stock.

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.