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

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) gapped down before the market opened on Monday . The stock had previously closed at $124.45, but opened at $117.46. Formula Systems (1985) shares last traded at $117.46, with a volume of 314 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Formula Systems (1985) in a report on Friday, March 27th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Formula Systems (1985) presently has an average rating of “Hold”.

Formula Systems (1985) Stock Up 6.5%

The company has a quick ratio of 1.61, a current ratio of 1.63 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.95 billion, a PE ratio of 3.32 and a beta of 1.10. The stock has a 50-day moving average of $124.85 and a 200-day moving average of $147.41.

Formula Systems (1985) (NASDAQ:FORTY) last posted its earnings results on Thursday, March 26th. The technology company reported $35.03 EPS for the quarter. The business had revenue of $708.38 million during the quarter. Formula Systems (1985) had a return on equity of 3.24% and a net margin of 20.89%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Altshuler Shaham Ltd raised its stake in Formula Systems (1985) by 30.8% in the fourth quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company’s stock valued at $1,182,000 after purchasing an additional 1,650 shares in the last quarter. GHP Investment Advisors Inc. grew its stake in Formula Systems (1985) by 10.8% in the 3rd quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock worth $1,082,000 after buying an additional 755 shares in the last quarter. CX Institutional bought a new position in shares of Formula Systems (1985) in the 3rd quarter worth $398,000. Finally, Raymond James Financial Inc. bought a new position in shares of Formula Systems (1985) in the 2nd quarter worth $73,000. Hedge funds and other institutional investors 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.