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

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares gapped down prior to trading on Monday . The stock had previously closed at $190.56, but opened at $167.02. Formula Systems (1985) shares last traded at $170.5950, with a volume of 668 shares traded.

Analysts Set New Price Targets

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, According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Formula Systems (1985) Stock Up 1.4%

The business’s 50 day moving average is $163.48 and its 200 day moving average is $142.59. The company has a quick ratio of 1.58, a current ratio of 1.60 and a debt-to-equity ratio of 0.15. The company has a market cap of $2.56 billion, a P/E ratio of 37.29 and a beta of 1.06.

Formula Systems (1985) (NASDAQ:FORTY) last released its quarterly 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 firm had revenue of $696.64 million during the quarter.

Formula Systems (1985) Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Tuesday, December 30th will be paid a dividend of $0.5021 per share. This represents a $2.01 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, December 30th. Formula Systems (1985)’s payout ratio is 31.50%.

Hedge Funds Weigh In On Formula Systems (1985)

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

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.