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

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares gapped down prior to trading 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 trading hands.

Analyst Upgrades and Downgrades

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

Formula Systems (1985) Price Performance

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

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

Formula Systems (1985) Dividend Announcement

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

Institutional Trading of Formula Systems (1985)

Institutional investors and hedge funds have recently made changes to their positions in the company. Altshuler Shaham Ltd boosted its position in Formula Systems (1985) by 10.4% during the 1st quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock worth $926,000 after purchasing an additional 727 shares during the period. Dimensional Fund Advisors LP boosted its position in 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 period. Elevation Point Wealth Partners LLC purchased a new stake in Formula Systems (1985) during the 1st quarter worth $206,000. Finally, Raymond James Financial Inc. purchased a new stake in Formula Systems (1985) during the 2nd quarter worth $73,000. 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.