Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Down - Here's Why

Key Points

• Formula Systems (1985) shares dropped from $135.01 to $131.23 upon market opening, ultimately trading at $130.00 with 299 shares exchanged.
• Wall Street analysts downgraded the stock from a "strong-buy" to a "buy" rating, indicating a potential slowdown in growth expectations.
• The company recently declared a quarterly dividend of $0.505, scheduled for payment on November 7th, which translates to an annual yield of 1.5%.

Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report)'s stock price gapped down before the market opened on Monday . The stock had previously closed at $135.01, but opened at $131.23. Formula Systems (1985) shares last traded at $130.00, with a volume of 299 shares traded.

Wall Street Analysts Forecast Growth

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

Formula Systems (1985) Trading Up 1.5%

The company has a current ratio of 1.21, a quick ratio of 1.17 and a debt-to-equity ratio of 0.17. The business has a 50 day moving average of $127.84 and a 200-day moving average of $111.38. The stock has a market cap of $2.10 billion, a PE ratio of 27.57 and a beta of 0.94.

Formula Systems (1985) (NASDAQ:FORTY - Get Free Report) last posted its earnings results on Tuesday, August 19th. The technology company reported $0.95 earnings per share (EPS) for the quarter. Formula Systems (1985) had a return on equity of 5.58% and a net margin of 2.70%.The firm had revenue of $743.37 million for the quarter.

Formula Systems (1985) Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Tuesday, October 14th will be paid a $0.505 dividend. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $2.02 dividend on an annualized basis and a yield of 1.5%. Formula Systems (1985)'s dividend payout ratio is presently 26.76%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Formula Systems (1985) stock. Raymond James Financial Inc. purchased a new position in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 568 shares of the technology company's stock, valued at approximately $73,000. 34.76% of the stock is currently owned by institutional investors.

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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