Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Down – Here’s What Happened

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $132.38, but opened at $119.70. Formula Systems (1985) shares last traded at $119.5060, with a volume of 392 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Formula Systems (1985) currently has an average rating of “Hold”.

Formula Systems (1985) Stock Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.58 and a current ratio of 1.60. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 26.69 and a beta of 1.06. The firm has a 50-day simple moving average of $167.35 and a two-hundred day simple moving average of $148.55.

Formula Systems (1985) (NASDAQ:FORTY) last posted its quarterly earnings data on Thursday, November 20th. The technology company reported $0.73 EPS for the quarter. Formula Systems (1985) had a net margin of 2.49% and a return on equity of 4.55%. The business had revenue of $696.64 million during the quarter.

Formula Systems (1985) Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 23rd. Stockholders of record on Tuesday, December 30th were given a dividend of $0.5021 per share. The ex-dividend date of this dividend was Tuesday, December 30th. This represents a $2.01 dividend on an annualized basis and a dividend yield of 1.7%. Formula Systems (1985)’s dividend payout ratio is currently 32.38%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new stake in Formula Systems (1985) during the 2nd quarter worth about $73,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Formula Systems (1985) during the second quarter worth approximately $222,000. CX Institutional purchased a new stake in shares of Formula Systems (1985) during the third quarter worth approximately $398,000. Finally, GHP Investment Advisors Inc. raised its holdings in Formula Systems (1985) by 10.8% in the third quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock valued at $1,082,000 after acquiring an additional 755 shares in the last quarter. 34.76% of the stock is 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.