Formula Systems (1985) (NASDAQ:FORTY) Stock Price Down 7.2% – Should You Sell?

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s share price traded down 7.2% during trading on Tuesday . The company traded as low as $115.92 and last traded at $115.92. 179 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 568 shares. The stock had previously closed at $124.95.

Analyst Upgrades and Downgrades

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

Formula Systems (1985) Price Performance

The firm has a market cap of $1.91 billion, a PE ratio of 3.26 and a beta of 1.10. The company has a current ratio of 1.63, a quick ratio of 1.61 and a debt-to-equity ratio of 0.07. The company has a 50 day moving average price of $132.55 and a 200 day moving average price of $148.22.

Formula Systems (1985) (NASDAQ:FORTY) last released its quarterly earnings data on Thursday, March 26th. The technology company reported $35.03 earnings per share for the quarter. The firm had revenue of $708.38 million during the quarter. Formula Systems (1985) had a return on equity of 3.24% and a net margin of 20.89%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in shares of Formula Systems (1985) in the 2nd quarter worth about $73,000. CX Institutional purchased a new position in Formula Systems (1985) during the 3rd quarter valued at about $398,000. GHP Investment Advisors Inc. increased its holdings in 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 valued at $1,082,000 after acquiring an additional 755 shares in the last quarter. Finally, Altshuler Shaham Ltd raised its position in 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 acquiring an additional 1,650 shares during the last quarter. 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.