Formula Systems (1985) (NASDAQ:FORTY) Trading Down 6.3% – Time to Sell?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) fell 6.3% on Monday . The company traded as low as $129.50 and last traded at $129.50. 244 shares were traded during trading, a decline of 59% from the average session volume of 590 shares. The stock had previously closed at $138.25.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Friday, March 27th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold”.

Formula Systems (1985) Stock Up 2.8%

The company has a quick ratio of 1.66, a current ratio of 1.68 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $1.99 billion, a P/E ratio of 3.29 and a beta of 1.17. The company has a 50-day moving average of $133.16 and a two-hundred day moving average of $145.21.

Formula Systems (1985) (NASDAQ:FORTY) last released its quarterly earnings results on Thursday, May 28th. The technology company reported $2.25 earnings per share 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) Announces Dividend

The company also recently declared a special dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 22nd will be given a dividend of $13.045 per share. The ex-dividend date is Friday, May 22nd. Formula Systems (1985)’s payout ratio is currently 27.55%.

Institutional Investors Weigh In On Formula Systems (1985)

Several hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of Formula Systems (1985) by 2.7% during the first 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 in the last quarter. Raymond James Financial Inc. bought a new stake in Formula Systems (1985) in the second quarter worth $73,000. Altshuler Shaham Ltd boosted its holdings in Formula Systems (1985) by 10.4% in the first quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock worth $926,000 after acquiring an additional 727 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new stake in Formula Systems (1985) in the first quarter worth $206,000. 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.