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

by · The Cerbat Gem

Formula Systems (1985) Ltd. (NASDAQ:FORTYGet Free Report)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $163.27, but opened at $150.14. Formula Systems (1985) shares last traded at $166.4750, with a volume of 1,373 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued 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, the company presently has an average rating of “Hold”.

View Our Latest Report on Formula Systems (1985)

Formula Systems (1985) Price Performance

The stock has a 50-day simple moving average of $168.85 and a 200 day simple moving average of $146.90. The company has a market cap of $2.50 billion, a PE ratio of 36.67 and a beta of 1.06. The company has a quick ratio of 1.58, a current ratio of 1.60 and a debt-to-equity ratio of 0.15.

Formula Systems (1985) (NASDAQ:FORTYGet Free Report) last issued its quarterly earnings data on Thursday, November 20th. The technology company reported $0.73 earnings per share (EPS) for the quarter. The firm had revenue of $696.64 million during 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 business also recently declared a quarterly dividend, which was paid on Friday, January 23rd. Stockholders of record on Tuesday, December 30th were paid a $0.5021 dividend. This represents a $2.01 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, December 30th. Formula Systems (1985)’s payout ratio is 32.60%.

Institutional Trading of Formula Systems (1985)

Several institutional investors have recently added to or reduced their stakes in FORTY. Elevation Point Wealth Partners LLC purchased a new stake in Formula Systems (1985) in the second quarter valued at approximately $222,000. Raymond James Financial Inc. purchased a new stake in shares of Formula Systems (1985) in the 2nd quarter valued at $73,000. CX Institutional purchased a new stake in shares of Formula Systems (1985) in the 3rd quarter valued at $398,000. Finally, GHP Investment Advisors Inc. lifted its stake in Formula Systems (1985) by 10.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock worth $1,082,000 after acquiring an additional 755 shares in the last quarter. Institutional investors and hedge funds own 34.76% of the company’s stock.

Formula Systems (1985) Company Profile

(Get Free Report)

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.

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