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

Key Points

• Formula Systems (1985) stock gapped down on Wednesday, opening at $106.80 versus a prior close of $111.03, and was last trading at that level on very light volume.
• Analyst sentiment remains cautious, with Weiss Ratings reiterating a “hold (c)” rating and MarketBeat showing an average Hold rating for the stock.
• The company recently reported Q1 earnings of $2.25 per share on $738.28 million in revenue and also paid a special dividend of $13.045 per share in June.

Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report)'s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $111.03, but opened at $106.80. Formula Systems (1985) shares last traded at $106.80, with a volume of 479 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a "hold (c)" rating on shares of Formula Systems (1985) in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Formula Systems (1985) has an average rating of "Hold".

Formula Systems (1985) Stock Down 3.8%

The company's fifty day simple moving average is $124.69 and its 200 day simple moving average is $134.87. The company has a current ratio of 1.68, a quick ratio of 1.66 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $1.64 billion, a P/E ratio of 2.72 and a beta of 1.21.

Formula Systems (1985) (NASDAQ:FORTY - Get Free Report) last released its quarterly earnings results on Thursday, May 28th. The technology company reported $2.25 earnings per share (EPS) for the quarter. Formula Systems (1985) had a net margin of 21.58% and a return on equity of 4.01%. The company had revenue of $738.28 million during the quarter.

Formula Systems (1985) Announces Dividend

The firm also recently declared a special dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 22nd were given a dividend of $13.045 per share. The ex-dividend date of this dividend was Friday, May 22nd. Formula Systems (1985)'s dividend payout ratio (DPR) is 1.88%.

Hedge Funds Weigh In On Formula Systems (1985)

Large investors have recently modified their holdings of the stock. Raymond James Financial Inc. bought a new stake in Formula Systems (1985) during the 2nd quarter valued at about $73,000. Elevation Point Wealth Partners LLC bought a new position in Formula Systems (1985) in the 1st quarter valued at approximately $206,000. Dimensional Fund Advisors LP boosted its stake in Formula Systems (1985) by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company's stock valued at $391,000 after purchasing an additional 86 shares during the last quarter. Finally, Altshuler Shaham Ltd increased its holdings in shares of Formula Systems (1985) by 10.4% in the 1st quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company's stock worth $926,000 after purchasing an additional 727 shares in the last quarter. Hedge funds and other institutional investors own 34.76% of the company's stock.

Formula Systems (1985) Company Profile

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.

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