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

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares fell 8% on Tuesday . The company traded as low as $132.91 and last traded at $132.91. 598 shares traded hands during trading, an increase of 2% from the average session volume of 585 shares. The stock had previously closed at $144.48.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Formula Systems (1985) in a report on Friday, March 27th. One investment 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) Stock Performance

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

Formula Systems (1985) Dividend Announcement

The company also recently announced a special dividend, which will be paid on Monday, June 15th. Investors 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 presently 3.87%.

Institutional Investors Weigh In On Formula Systems (1985)

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in 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 worth $391,000 after purchasing an additional 86 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Formula Systems (1985) in the second quarter worth approximately $73,000. Altshuler Shaham Ltd grew its position in Formula Systems (1985) by 10.4% in the first quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock worth $926,000 after buying an additional 727 shares during the last quarter. GHP Investment Advisors Inc. grew its position in Formula Systems (1985) by 10.8% in the third quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock worth $1,082,000 after buying an additional 755 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC acquired a new position in Formula Systems (1985) in the first quarter worth approximately $206,000. 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.