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

Formula Systems (1985) Ltd. (NASDAQ:FORTY) gapped down before the market opened on Wednesday . The stock had previously closed at $170.01, but opened at $163.27. Formula Systems (1985) shares last traded at $161.0250, with a volume of 297 shares traded.

Wall Street Analyst Weigh In

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

Formula Systems (1985) Price Performance

The firm has a market capitalization of $2.61 billion, a PE ratio of 35.74 and a beta of 1.06. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.58 and a current ratio of 1.60. The stock has a fifty day moving average price of $168.04 and a 200-day moving average price of $145.84.

Formula Systems (1985) (NASDAQ:FORTY) last posted its earnings results on Thursday, November 20th. The technology company reported $0.73 earnings per share (EPS) for the quarter. The company had revenue of $696.64 million for the quarter. Formula Systems (1985) had a return on equity of 4.55% and a net margin of 2.49%.

Formula Systems (1985) Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 23rd. Shareholders of record on Tuesday, December 30th will be paid a $0.5021 dividend. The ex-dividend date is Tuesday, December 30th. This represents a $2.01 dividend on an annualized basis and a yield of 1.2%. Formula Systems (1985)’s dividend payout ratio (DPR) is 32.60%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Elevation Point Wealth Partners LLC acquired a new stake in shares of Formula Systems (1985) during the second quarter worth $222,000. Raymond James Financial Inc. acquired a new stake in Formula Systems (1985) during the 2nd quarter worth about $73,000. CX Institutional purchased a new stake in Formula Systems (1985) during the 3rd quarter valued at about $398,000. Finally, GHP Investment Advisors Inc. increased its holdings in shares of 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 purchasing an additional 755 shares during the period. Institutional investors and hedge funds own 34.76% of the company’s stock.

About Formula Systems (1985)

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.