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

Formula Systems (1985) Ltd. (NASDAQ:FORTY) gapped down prior to trading on Monday . The stock had previously closed at $190.56, but opened at $167.02. Formula Systems (1985) shares last traded at $169.4190, with a volume of 580 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Monday, December 22nd. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

Formula Systems (1985) Price Performance

The firm has a fifty day moving average of $159.37 and a two-hundred day moving average of $139.40. The stock has a market capitalization of $2.81 billion, a P/E ratio of 38.10 and a beta of 1.07. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.60 and a quick ratio of 1.58.

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

Formula Systems (1985) Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Tuesday, December 30th will be issued a dividend of $0.5021 per share. This represents a $2.01 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, December 30th. Formula Systems (1985)’s dividend payout ratio (DPR) is presently 32.60%.

Institutional Trading of Formula Systems (1985)

Several hedge funds and other institutional investors have recently bought and sold shares of FORTY. Elevation Point Wealth Partners LLC purchased a new position in shares of Formula Systems (1985) in the 2nd quarter valued at $222,000. CX Institutional purchased a new stake in shares of Formula Systems (1985) during the 3rd quarter worth $398,000. GHP Investment Advisors Inc. lifted its stake in shares of Formula Systems (1985) by 10.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock worth $1,082,000 after purchasing an additional 755 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Formula Systems (1985) during the second quarter valued at about $73,000. Institutional investors own 34.76% of the company’s stock.

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.