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

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s share price gapped down before the market opened on Monday . The stock had previously closed at $190.56, but opened at $167.02. Formula Systems (1985) shares last traded at $169.4190, with a volume of 580 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Formula Systems (1985) in a research note on Monday. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold”.

Formula Systems (1985) Stock Performance

The company has a quick ratio of 1.58, a current ratio of 1.60 and a debt-to-equity ratio of 0.15. The company has a fifty day moving average price of $160.73 and a 200 day moving average price of $140.46. The stock has a market cap of $2.67 billion, a PE ratio of 38.39 and a beta of 1.07.

Formula Systems (1985) (NASDAQ:FORTY) last issued 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 company also recently announced a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Tuesday, December 30th will be paid a $0.5021 dividend. This represents a $2.01 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, December 30th. Formula Systems (1985)’s payout ratio is presently 31.28%.

Institutional Investors Weigh In On Formula Systems (1985)

Several institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in Formula Systems (1985) in the 2nd quarter worth $73,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Formula Systems (1985) during the second quarter worth about $222,000. CX Institutional bought a new stake in shares of Formula Systems (1985) in the third quarter worth about $398,000. Finally, GHP Investment Advisors Inc. increased its holdings 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 valued at $1,082,000 after purchasing an additional 755 shares during the period. Hedge funds and other institutional investors own 34.76% of the company’s stock.

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.