Formula Systems (1985) (NASDAQ:FORTY) Sets New 52-Week Low – Should You Sell?

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) reached a new 52-week low during 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.

Analysts Set New Price Targets

Separately, Weiss Ratings restated 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 MarketBeat, the stock has an average rating of “Hold”.

Formula Systems (1985) Stock Performance

The stock has a market cap of $1.56 billion, a PE ratio of 2.60 and a beta of 1.17. The company’s 50-day moving average price is $129.52 and its 200 day moving average price is $139.64. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.66 and a current ratio of 1.68.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FORTY. Elevation Point Wealth Partners LLC purchased a new stake in Formula Systems (1985) during the 1st quarter worth about $206,000. Altshuler Shaham Ltd grew its position in shares of Formula Systems (1985) by 30.8% during the fourth quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company’s stock worth $1,182,000 after buying an additional 1,650 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Formula Systems (1985) during the second quarter worth approximately $73,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of 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 worth $391,000 after buying an additional 86 shares during the period. 34.76% of the stock is 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.