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

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares gapped down before the market opened on Thursday . The stock had previously closed at $119.11, but opened at $112.70. Formula Systems (1985) shares last traded at $112.70, with a volume of 785 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Formula Systems (1985) in a research note on Friday, March 27th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Formula Systems (1985) presently has a consensus rating of “Hold”.

Formula Systems (1985) Stock Down 5.4%

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.68 and a quick ratio of 1.66. The stock has a market capitalization of $1.73 billion, a P/E ratio of 2.87 and a beta of 1.17. The firm has a 50 day moving average of $132.97 and a 200-day moving average of $143.36.

Formula Systems (1985) (NASDAQ:FORTY) last issued its quarterly earnings results on Thursday, May 28th. The technology company reported $2.25 earnings per share (EPS) for the quarter. Formula Systems (1985) had a return on equity of 4.01% and a net margin of 21.58%.The firm had revenue of $738.29 million for the quarter.

Formula Systems (1985) Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 22nd were paid a $13.045 dividend. The ex-dividend date was Friday, May 22nd. Formula Systems (1985)’s dividend payout ratio is currently 2.72%.

Institutional Investors Weigh In On Formula Systems (1985)

Large investors have recently modified their holdings of the stock. Raymond James Financial Inc. bought a new stake in shares of Formula Systems (1985) in the 2nd quarter valued at approximately $73,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Formula Systems (1985) in the 1st quarter valued at approximately $206,000. Dimensional Fund Advisors LP grew its stake in shares of Formula Systems (1985) by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock valued at $391,000 after purchasing an additional 86 shares during the period. Finally, Altshuler Shaham Ltd grew its stake in shares of Formula Systems (1985) by 10.4% in the 1st quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock valued at $926,000 after purchasing an additional 727 shares during the period. 34.76% of the stock is currently owned by institutional investors.

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.