Formula Systems (1985) (NASDAQ:FORTY) Reaches New 1-Year Low – Time to Sell?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) hit 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.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Formula Systems (1985) in a report on Friday, March 27th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Formula Systems (1985) Stock Performance

The stock has a market capitalization of $1.58 billion, a PE ratio of 2.62 and a beta of 1.17. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.68 and a quick ratio of 1.66. The business has a 50 day moving average price of $130.79 and a 200 day moving average price of $140.63.

Formula Systems (1985) (NASDAQ:FORTY) last issued its earnings results on Thursday, May 28th. The technology company reported $2.25 earnings per share (EPS) for the quarter. The firm had revenue of $738.28 million for the quarter. Formula Systems (1985) had a net margin of 21.58% and a return on equity of 4.01%.

Formula Systems (1985) Announces Dividend

The firm also recently disclosed a special dividend, which was paid on Monday, June 15th. Investors 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 dividend payout ratio (DPR) is 2.72%.

Hedge Funds Weigh In On Formula Systems (1985)

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Altshuler Shaham Ltd raised its holdings in shares of Formula Systems (1985) by 10.4% during the first quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock valued at $926,000 after purchasing an additional 727 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Formula Systems (1985) by 2.7% in 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 valued at $206,000. Finally, Raymond James Financial Inc. purchased a new stake in Formula Systems (1985) during the 2nd quarter valued at $73,000. Institutional investors own 34.76% of the company’s stock.

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.