Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Down – Time to Sell?

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $132.38, but opened at $119.70. Formula Systems (1985) shares last traded at $119.5060, with a volume of 392 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold”.

Formula Systems (1985) Price Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 1.60 and a quick ratio of 1.58. The company’s 50 day simple moving average is $167.35 and its 200 day simple moving average is $148.55. The company has a market capitalization of $1.86 billion, a PE ratio of 26.69 and a beta of 1.06.

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. The business had revenue of $696.64 million during the quarter. Formula Systems (1985) had a net margin of 2.49% and a return on equity of 4.55%.

Formula Systems (1985) Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 23rd. Shareholders of record on Tuesday, December 30th were paid a $0.5021 dividend. This represents a $2.01 annualized dividend and a yield of 1.7%. The ex-dividend date was Tuesday, December 30th. Formula Systems (1985)’s dividend payout ratio is currently 32.38%.

Institutional Trading of Formula Systems (1985)

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 valued at about $73,000. Elevation Point Wealth Partners LLC acquired a new position in Formula Systems (1985) during the second quarter worth approximately $222,000. CX Institutional purchased a new stake in Formula Systems (1985) in the third quarter valued at approximately $398,000. Finally, GHP Investment Advisors Inc. lifted its stake 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 valued at $1,082,000 after buying an additional 755 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.