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

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares gapped down before the market opened on Friday . The stock had previously closed at $165.68, but opened at $134.08. Formula Systems (1985) shares last traded at $131.9450, with a volume of 1,575 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 Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold”.

Formula Systems (1985) Stock Down 19.7%

The firm’s 50 day simple moving average is $169.10 and its two-hundred day simple moving average is $148.45. The company has a quick ratio of 1.58, a current ratio of 1.60 and a debt-to-equity ratio of 0.15.

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

Formula Systems (1985) Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 23rd. Investors of record on Tuesday, December 30th were given a $0.5021 dividend. The ex-dividend date of this dividend was Tuesday, December 30th. This represents a $2.01 annualized dividend and a yield of 1.5%. Formula Systems (1985)’s dividend payout ratio (DPR) is presently 32.60%.

Institutional Investors Weigh In On Formula Systems (1985)

Several hedge funds and other institutional investors have recently made changes to their positions in FORTY. Raymond James Financial Inc. acquired a new stake in shares of Formula Systems (1985) in the 2nd quarter worth about $73,000. GHP Investment Advisors Inc. increased its holdings in Formula Systems (1985) by 10.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock worth $1,082,000 after purchasing an additional 755 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in shares of Formula Systems (1985) in the second quarter worth approximately $222,000. Finally, CX Institutional purchased a new stake in shares of Formula Systems (1985) in the third quarter worth approximately $398,000. 34.76% of the stock is 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.