Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Down – Time to Sell?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) gapped down before the market opened on Friday. The stock had previously closed at $127.28, but opened at $117.47. Formula Systems (1985) shares last traded at $117.47, with a volume of 247 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Formula Systems (1985) in a research note on Thursday, August 27th. One investment analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Formula Systems (1985) Stock Performance

The firm’s 50 day moving average is $119.28 and its 200 day moving average is $123.07. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.44 and a current ratio of 1.48. The stock has a market cap of $1.80 billion, a P/E ratio of 2.95 and a beta of 1.23.

Formula Systems (1985) (NASDAQ:FORTY) last issued its quarterly earnings data on Wednesday, August 26th. The technology company reported $1.47 EPS for the quarter. Formula Systems (1985) had a return on equity of 4.38% and a net margin of 21.57%.

Formula Systems (1985) Announces Dividend

The firm also recently declared a special dividend, which was paid on Friday, October 16th. Shareholders of record on Tuesday, September 22nd were issued a $1.63 dividend. The ex-dividend date of this dividend was Tuesday, September 22nd. Formula Systems (1985)’s dividend payout ratio (DPR) is currently 6.03%.

Institutional Trading of Formula Systems (1985)

A hedge fund recently raised its stake in Formula Systems (1985) stock. Altshuler Shaham Ltd grew its stake in Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 10.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,742 shares of the technology company’s stock after buying an additional 727 shares during the period. Altshuler Shaham Ltd owned 0.05% of Formula Systems (1985) worth $926,000 at the end of the most recent quarter. 34.76% of the stock is owned by institutional investors.

About Formula Systems (1985)

Formula Systems (1985) Ltd. is an Israel-based holding company focused on software and information technology services. Through its subsidiaries, it provides software development, systems integration, IT consulting and outsourcing, and business software for areas including insurance and financial services. Its principal subsidiaries include Matrix IT, Sapiens International and Magic Software Enterprises. Their offerings span technology services and digital solutions, insurance and financial software, and application development and integration platforms.