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

Formula Systems (1985) Ltd. (NASDAQ:FORTY) gapped down prior to trading on Tuesday . The stock had previously closed at $119.20, but opened at $115.00. Formula Systems (1985) shares last traded at $108.50, with a volume of 1,642 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Thursday, August 27th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Formula Systems (1985) Stock Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.44 and a current ratio of 1.48. The business has a 50-day moving average price of $115.62 and a 200 day moving average price of $122.52. The stock has a market capitalization of $1.75 billion, a P/E ratio of 2.86 and a beta of 1.21.

Formula Systems (1985) (NASDAQ:FORTY) last released its quarterly earnings results on Wednesday, August 26th. The technology company reported $1.47 earnings per share for the quarter. Formula Systems (1985) had a return on equity of 4.38% and a net margin of 21.57%.

Formula Systems (1985) Announces Dividend

The company also recently announced a special dividend, which will be paid on Friday, October 16th. Investors of record on Tuesday, September 22nd will be given a $1.63 dividend. The ex-dividend date of this dividend is Tuesday, September 22nd. Formula Systems (1985)’s dividend payout ratio is presently 4.87%.

Institutional Trading of Formula Systems (1985)

Several institutional investors have recently bought and sold shares of the business. Altshuler Shaham Ltd lifted its stake in Formula Systems (1985) by 10.4% during the first quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock worth $926,000 after purchasing an additional 727 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in 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 worth $391,000 after acquiring an additional 86 shares during the period. Finally, Elevation Point Wealth Partners LLC acquired a new stake in shares of Formula Systems (1985) in the first quarter valued at approximately $206,000. 34.76% of the stock is owned by institutional investors and hedge funds.

About Formula Systems (1985)

Formula Systems (1985) Ltd. is an Israeli information technology holding company that invests in and manages businesses providing software, technology consulting and information technology services. The company operates primarily through its subsidiaries and serves enterprises, government organizations and other institutions across a range of industries.

Its principal subsidiaries include Matrix IT, which provides information technology services, systems integration, consulting, outsourcing and cybersecurity solutions; Magic Software Enterprises, which develops application software and provides digital transformation, cloud, data and professional services; and Sapiens International, which supplies software platforms and related services for the insurance industry, including solutions for property and casualty, life and retirement insurance.

Founded in 1985, Formula Systems has expanded its activities beyond Israel through subsidiaries and operating units serving customers in North America, Europe, Israel and other international markets.