Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Down – Here’s Why

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $119.11, but opened at $112.70. Formula Systems (1985) shares last traded at $112.70, with a volume of 785 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Friday, March 27th. One equities 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) Stock Down 5.4%

The company has a current ratio of 1.68, a quick ratio of 1.66 and a debt-to-equity ratio of 0.12. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of 2.87 and a beta of 1.17. The firm has a 50-day moving average of $132.97 and a two-hundred day moving average of $143.36.

Formula Systems (1985) (NASDAQ:FORTY) last posted its quarterly earnings data on Thursday, May 28th. The technology company reported $2.25 earnings per share for the quarter. Formula Systems (1985) had a return on equity of 4.01% and a net margin of 21.58%.The business had revenue of $738.29 million during the quarter.

Formula Systems (1985) Dividend Announcement

The firm also recently disclosed a special dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 22nd were given a dividend of $13.045 per share. The ex-dividend date of this dividend was Friday, May 22nd. Formula Systems (1985)’s payout ratio is currently 2.72%.

Hedge Funds Weigh In On Formula Systems (1985)

Several large investors have recently made changes to their positions in FORTY. Raymond James Financial Inc. acquired a new position in shares of Formula Systems (1985) during the 2nd quarter worth about $73,000. Altshuler Shaham Ltd increased its stake 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 valued at $1,182,000 after acquiring an additional 1,650 shares during the period. Elevation Point Wealth Partners LLC bought a new position in Formula Systems (1985) during the first quarter valued at about $206,000. Finally, Dimensional Fund Advisors LP increased its stake 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 valued at $391,000 after acquiring 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.