Formula Systems (1985) (NASDAQ:FORTY) Trading Down 8% – Time to Sell?

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s stock price was down 8% during trading on Tuesday . The company traded as low as $132.91 and last traded at $132.91. Approximately 598 shares were traded during mid-day trading, an increase of 2% from the average daily volume of 585 shares. The stock had previously closed at $144.48.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Formula Systems (1985) in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Formula Systems (1985) Stock Down 4.4%

The company has a debt-to-equity ratio of 0.11, a current ratio of 1.63 and a quick ratio of 1.61. The stock’s fifty day simple moving average is $132.29 and its 200-day simple moving average is $146.41. The stock has a market cap of $2.04 billion, a P/E ratio of 3.47 and a beta of 1.17.

Formula Systems (1985) Announces Dividend

The firm also recently declared a special dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 22nd will be issued a dividend of $13.045 per share. The ex-dividend date of this dividend is Friday, May 22nd. Formula Systems (1985)’s payout ratio is 3.87%.

Institutional Investors Weigh In On Formula Systems (1985)

A number of hedge funds have recently made changes to their positions in the business. Altshuler Shaham Ltd raised its holdings in shares of Formula Systems (1985) by 10.4% during the first quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock valued at $926,000 after buying an additional 727 shares during the last quarter. GHP Investment Advisors Inc. raised its holdings in shares of Formula Systems (1985) by 10.8% during the third quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock valued at $1,082,000 after buying an additional 755 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings 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 valued at $391,000 after buying an additional 86 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of Formula Systems (1985) during the first quarter valued at approximately $206,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Formula Systems (1985) during the second quarter valued at approximately $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.