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

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $102.01, but opened at $107.00. Formula Systems (1985) shares last traded at $107.00, with a volume of 552 shares traded.

Wall Street Analyst Weigh In

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

Formula Systems (1985) Price Performance

The company has a market capitalization of $1.64 billion, a P/E ratio of 2.72 and a beta of 1.17. The company’s 50-day simple moving average is $129.52 and its 200 day simple moving average is $139.64. The company has a quick ratio of 1.66, a current ratio of 1.68 and a debt-to-equity ratio of 0.12.

Formula Systems (1985) (NASDAQ:FORTY) last issued its quarterly earnings data 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 during 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 business also recently declared a special dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 22nd were paid a dividend of $13.045 per share. The ex-dividend date was Friday, May 22nd. Formula Systems (1985)’s dividend payout ratio is 2.72%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Elevation Point Wealth Partners LLC acquired a new stake in Formula Systems (1985) in the 1st quarter worth approximately $206,000. Altshuler Shaham Ltd raised its position in shares of Formula Systems (1985) by 30.8% in the fourth quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company’s stock valued at $1,182,000 after purchasing an additional 1,650 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Formula Systems (1985) in the second quarter worth $73,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Formula Systems (1985) by 2.7% during the 1st 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. Institutional investors and hedge funds 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.