Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Down - What's Next?

Key Points

• Formula Systems (1985) Ltd. shares gapped down significantly from $119.00 to $112.81 at market open, with the last traded price at $122.71.
• Analysts have downgraded the rating from "strong-buy" to "buy" as of June 21st, indicating potential caution for investors.
• The company increased its semi-annual dividend to $0.9728, providing a yield of 100.0%, reflecting a strong return to shareholders.

Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $119.00, but opened at $112.81. Formula Systems (1985) shares last traded at $122.71, with a volume of 413 shares traded.

Wall Street Analysts Forecast Growth

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

Formula Systems (1985) Stock Down 3.6%

The stock has a market capitalization of $1.85 billion, a PE ratio of 23.17 and a beta of 0.93. The firm has a 50 day moving average of $120.26 and a two-hundred day moving average of $103.31. The company has a current ratio of 1.26, a quick ratio of 1.23 and a debt-to-equity ratio of 0.16.

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

Formula Systems (1985) Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Friday, August 1st. Investors of record on Monday, July 7th were issued a $0.9728 dividend. This is an increase from Formula Systems (1985)'s previous semi-annual dividend of $0.69. This represents a yield of 100.0%. The ex-dividend date of this dividend was Monday, July 7th. Formula Systems (1985)'s dividend payout ratio is presently 12.64%.

Hedge Funds Weigh In On Formula Systems (1985)

An institutional investor recently bought a new position in Formula Systems (1985) stock. Raymond James Financial Inc. acquired a new position in Formula Systems (1985) Ltd. (NASDAQ:FORTY - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 568 shares of the technology company's stock, valued at approximately $73,000. Hedge funds and other institutional investors own 34.76% of the company's stock.

About Formula Systems (1985)

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.