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

Formula Systems (1985) Ltd. (NASDAQ:FORTY) gapped down prior to trading on Friday. The stock had previously closed at $127.28, but opened at $117.47. Formula Systems (1985) shares last traded at $117.47, with a volume of 247 shares.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Formula Systems (1985) in a research note on Thursday, August 27th. One investment analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Formula Systems (1985) Stock Down 2.9%

The stock has a market cap of $1.80 billion, a PE ratio of 2.95 and a beta of 1.23. The business has a fifty day moving average of $119.28 and a 200-day moving average of $123.07. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.48 and a quick ratio of 1.44.

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

Formula Systems (1985) Dividend Announcement

The company also recently declared a special dividend, which was paid on Friday, October 16th. Stockholders of record on Tuesday, September 22nd were paid a dividend of $1.63 per share. The ex-dividend date was Tuesday, September 22nd. Formula Systems (1985)’s dividend payout ratio (DPR) is currently 6.03%.

Institutional Trading of Formula Systems (1985)

A hedge fund recently raised its stake in Formula Systems (1985) stock. Altshuler Shaham Ltd boosted its holdings in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 10.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,742 shares of the technology company’s stock after acquiring an additional 727 shares during the period. Altshuler Shaham Ltd owned about 0.05% of Formula Systems (1985) worth $926,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 34.76% of the stock is owned by institutional investors.

Formula Systems (1985) Company Profile

Formula Systems (1985) Ltd. is an Israel-based holding company focused on software and information technology services. Through its subsidiaries, it provides software development, systems integration, IT consulting and outsourcing, and business software for areas including insurance and financial services. Its principal subsidiaries include Matrix IT, Sapiens International and Magic Software Enterprises. Their offerings span technology services and digital solutions, insurance and financial software, and application development and integration platforms.