Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Down – Time to Sell?

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $113.99, but opened at $106.14. Formula Systems (1985) shares last traded at $106.14, with a volume of 412 shares traded.

Formula Systems (1985) Stock Performance

The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.66 and a current ratio of 1.68. The company has a market cap of $1.63 billion, a P/E ratio of 2.70 and a beta of 1.21. The firm has a 50 day moving average price of $116.96 and a 200-day moving average price of $129.86.

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

Formula Systems (1985) Dividend Announcement

The company also recently announced a special dividend, which was paid on Monday, June 15th. Investors 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 (DPR) is presently 1.88%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FORTY. Raymond James Financial Inc. acquired a new stake in shares of Formula Systems (1985) in the second quarter valued at about $73,000. Elevation Point Wealth Partners LLC bought a new position in shares of Formula Systems (1985) in the first quarter worth about $206,000. Dimensional Fund Advisors LP lifted its position in shares of Formula Systems (1985) by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock worth $391,000 after purchasing an additional 86 shares during the last quarter. Finally, Altshuler Shaham Ltd lifted its position in shares of Formula Systems (1985) by 30.8% during the 4th quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company’s stock worth $1,182,000 after purchasing an additional 1,650 shares during the last quarter. 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.