Formula Systems (1985) (NASDAQ:FORTY) Stock Price Down 4.3% – What’s Next?

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s share price fell 4.3% during trading on Monday . The stock traded as low as $178.10 and last traded at $176.2410. 402 shares changed hands during trading, an increase of 40% from the average session volume of 288 shares. The stock had previously closed at $184.16.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Formula Systems (1985) in a research note on Monday, December 15th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Formula Systems (1985) currently has an average rating of “Hold”.

Formula Systems (1985) Trading Down 3.5%

The business has a 50 day simple moving average of $156.31 and a 200 day simple moving average of $136.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.60 and a quick ratio of 1.58. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 39.13 and a beta of 1.07.

Formula Systems (1985) (NASDAQ:FORTY) last announced its earnings results on Thursday, November 20th. The technology company reported $0.73 earnings per share for the quarter. The company 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 will be paid on Friday, January 23rd. Stockholders of record on Tuesday, December 30th will be paid a dividend of $0.5021 per share. This represents a $2.01 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, December 30th. Formula Systems (1985)’s dividend payout ratio is 31.28%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. GHP Investment Advisors Inc. increased its position in 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 worth $1,082,000 after purchasing an additional 755 shares during the period. CX Institutional bought a new position in Formula Systems (1985) during the third quarter worth about $398,000. Elevation Point Wealth Partners LLC acquired a new position in shares of Formula Systems (1985) in the 2nd quarter valued at approximately $222,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Formula Systems (1985) during the second quarter worth $73,000. 34.76% of the stock is currently owned by institutional investors.

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.