Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Down – What’s Next?

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s share price 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 reiterated 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, According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Formula Systems (1985) Price Performance

The business has a fifty day moving average of $115.82 and a 200 day moving average of $122.32. The firm has a market cap of $1.75 billion, a P/E ratio of 2.86 and a beta of 1.21. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.13.

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

Formula Systems (1985) Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FORTY. Dimensional Fund Advisors LP increased its stake in Formula Systems (1985) by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock worth $391,000 after purchasing an additional 86 shares in the last quarter. Altshuler Shaham Ltd lifted its position in Formula Systems (1985) by 10.4% in the 1st quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock valued at $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 1st quarter valued at $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.