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

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) gapped down prior to trading on Tuesday . The stock had previously closed at $163.27, but opened at $150.14. Formula Systems (1985) shares last traded at $166.4750, with a volume of 1,373 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Formula Systems (1985) in a report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold”.

Formula Systems (1985) Stock Down 3.8%

The stock has a market cap of $2.54 billion, a price-to-earnings ratio of 34.97 and a beta of 1.06. The firm has a 50 day simple moving average of $169.46 and a two-hundred day simple moving average of $147.40. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.60 and a quick ratio of 1.58.

Formula Systems (1985) (NASDAQ:FORTY) last issued its quarterly earnings data on Thursday, November 20th. The technology company reported $0.73 earnings per share (EPS) for the quarter. Formula Systems (1985) had a return on equity of 4.55% and a net margin of 2.49%.The business 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. Shareholders of record on Tuesday, December 30th were given a dividend of $0.5021 per share. The ex-dividend date of this dividend was Tuesday, December 30th. This represents a $2.01 annualized dividend and a yield of 1.3%. Formula Systems (1985)’s payout ratio is 32.60%.

Institutional Inflows and Outflows

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