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

Formula Systems (1985) Ltd. (NASDAQ:FORTY) gapped down prior to trading on Wednesday . The stock had previously closed at $170.01, but opened at $163.27. Formula Systems (1985) shares last traded at $161.0250, with a volume of 297 shares.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Formula Systems (1985) in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Formula Systems (1985) Price Performance

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 business’s 50 day moving average price is $168.04 and its 200 day moving average price is $145.84. The stock has a market capitalization of $2.61 billion, a P/E ratio of 35.74 and a beta of 1.06.

Formula Systems (1985) (NASDAQ:FORTY) last issued its earnings results on Thursday, November 20th. The technology company reported $0.73 earnings per share (EPS) for the quarter. Formula Systems (1985) had a net margin of 2.49% and a return on equity of 4.55%. The company had revenue of $696.64 million for the quarter.

Formula Systems (1985) Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Tuesday, December 30th will be given a dividend of $0.5021 per share. This represents a $2.01 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Tuesday, December 30th. Formula Systems (1985)’s dividend payout ratio is 32.60%.

Hedge Funds Weigh In On Formula Systems (1985)

Institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new stake in Formula Systems (1985) in the second quarter worth about $73,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Formula Systems (1985) in the second quarter worth $222,000. CX Institutional bought a new position in shares of Formula Systems (1985) during the 3rd quarter valued at about $398,000. Finally, GHP Investment Advisors Inc. boosted its stake in Formula Systems (1985) by 10.8% during the third quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock valued at $1,082,000 after buying an additional 755 shares during the last quarter. 34.76% of the stock is 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.