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

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) gapped down prior to trading on Friday. The stock had previously closed at $127.28, but opened at $117.47. Formula Systems (1985) shares last traded at $117.47, with a volume of 247 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Formula Systems (1985) in a research note on Thursday, August 27th. One equities research analyst has rated the stock with a Hold rating. According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Formula Systems (1985) Stock Down 2.9%

The stock has a market capitalization of $1.80 billion, a P/E ratio of 2.95 and a beta of 1.23. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.48 and a quick ratio of 1.44. The stock has a fifty day moving average price of $119.04 and a 200 day moving average price of $122.82.

Formula Systems (1985) (NASDAQ:FORTY) last issued its quarterly earnings data on Wednesday, August 26th. The technology company reported $1.47 EPS for the quarter. Formula Systems (1985) had a net margin of 21.57% and a return on equity of 4.38%.

Formula Systems (1985) Announces Dividend

The firm also recently announced a special dividend, which was paid on Friday, October 16th. Investors of record on Tuesday, September 22nd were given a $1.63 dividend. The ex-dividend date was Tuesday, September 22nd. Formula Systems (1985)’s dividend payout ratio (DPR) is presently 6.03%.

Hedge Funds Weigh In On Formula Systems (1985)

A hedge fund recently raised its position in Formula Systems (1985) stock. Altshuler Shaham Ltd lifted its stake in Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 10.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,742 shares of the technology company’s stock after acquiring an additional 727 shares during the quarter. Altshuler Shaham Ltd owned 0.05% of Formula Systems (1985) worth $926,000 as of its most recent filing with the Securities & Exchange Commission. 34.76% of the stock is owned by institutional investors.

About Formula Systems (1985)

Formula Systems (1985) Ltd. is an Israel-based holding company focused on software and information technology services. Through its subsidiaries, it provides software development, systems integration, IT consulting and outsourcing, and business software for areas including insurance and financial services. Its principal subsidiaries include Matrix IT, Sapiens International and Magic Software Enterprises. Their offerings span technology services and digital solutions, insurance and financial software, and application development and integration platforms.