Formula Systems (1985) (NASDAQ:FORTY) Shares Down 6.9% - Here's What Happened

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report) dropped 6.9% on Friday . The company traded as low as $133.45 and last traded at $125.69. Approximately 204 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 939 shares. The stock had previously closed at $134.96.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered Formula Systems (1985) from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 21st.

Formula Systems (1985) Stock Down 6.9%

The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of 24.08 and a beta of 0.97. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.23 and a current ratio of 1.26. The business's 50 day moving average is $109.51 and its 200 day moving average is $97.10.

Formula Systems (1985) (NASDAQ:FORTY - Get Free Report) last released its earnings results on Thursday, May 22nd. The technology company reported $1.23 EPS for the quarter. Formula Systems (1985) had a return on equity of 6.00% and a net margin of 2.91%. The firm had revenue of $754.68 million during the quarter.

Formula Systems (1985) Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Friday, August 1st. Shareholders of record on Monday, July 7th will be issued a $0.9728 dividend. The ex-dividend date of this dividend is Monday, July 7th. This is an increase from Formula Systems (1985)'s previous semi-annual dividend of $0.69. This represents a yield of 1%. Formula Systems (1985)'s payout ratio is presently 12.07%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Formula Systems (1985) stock. Altshuler Shaham Ltd increased its stake in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY - Free Report) by 7.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,385 shares of the technology company's stock after purchasing an additional 450 shares during the quarter. Altshuler Shaham Ltd's holdings in Formula Systems (1985) were worth $536,000 at the end of the most recent quarter. Institutional investors own 34.76% of the company's stock.

Formula Systems (1985) Company Profile

Formula Systems (1985) Ltd., through its subsidiaries, provides proprietary and non-proprietary software solutions, IT professional services, software product marketing and support, computer infrastructure and integration solutions, and learning and integration worldwide. The company offers computer and telecommunication infrastructure solutions; and sells and markets computers and peripheral equipment, and cloud based solutions and services relating to databases and big data.

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