Formula Systems (1985) (NASDAQ:FORTY) Shares Down 6.3% – What’s Next?

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s share price fell 6.3% during mid-day trading on Monday . The company traded as low as $129.50 and last traded at $129.50. 244 shares changed hands during trading, a decline of 59% from the average session volume of 590 shares. The stock had previously closed at $138.25.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued 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, According to data from MarketBeat.com, Formula Systems (1985) presently has an average rating of “Hold”.

Formula Systems (1985) Price Performance

The stock has a 50 day simple moving average of $133.18 and a two-hundred day simple moving average of $144.78. The company has a market cap of $1.81 billion, a price-to-earnings ratio of 3.00 and a beta of 1.17. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.68 and a quick ratio of 1.66.

Formula Systems (1985) (NASDAQ:FORTY) last issued its earnings results on Thursday, May 28th. The technology company reported $2.25 earnings per share (EPS) 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 company also recently disclosed a special dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 22nd will be given a dividend of $13.045 per share. The ex-dividend date is Friday, May 22nd. Formula Systems (1985)’s dividend payout ratio (DPR) is presently 27.55%.

Hedge Funds Weigh In On Formula Systems (1985)

Institutional investors and hedge funds have recently bought and sold shares of the company. Altshuler Shaham Ltd grew its stake in shares of Formula Systems (1985) by 10.4% in the 1st 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 period. Dimensional Fund Advisors LP raised its position in shares of Formula Systems (1985) by 2.7% during the 1st 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 period. Elevation Point Wealth Partners LLC purchased a new stake in shares of Formula Systems (1985) during the 1st quarter valued at approximately $206,000. Finally, Raymond James Financial Inc. acquired a new position in Formula Systems (1985) in the second quarter valued at approximately $73,000. 34.76% of the stock is currently owned by institutional investors and hedge funds.

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.