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

Key Points

• Formula Systems (1985) Ltd. shares gapped down on Tuesday, opening at $135.22 after closing at $138.42, with a last traded price of $137.24.
• Wall Street Zen downgraded the company from a "strong-buy" to a "buy" rating, reflecting changing analyst sentiment.
• A quarterly dividend of $0.505 will be paid on November 7th to shareholders of record on October 14th, representing an annualized yield of 1.5%.

Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report)'s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $138.42, but opened at $135.22. Formula Systems (1985) shares last traded at $137.24, with a volume of 432 shares traded.

Analyst Ratings Changes

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

Formula Systems (1985) Trading Up 0.9%

The stock has a 50 day moving average of $127.23 and a 200-day moving average of $110.21. The company has a market capitalization of $2.10 billion, a P/E ratio of 27.61 and a beta of 0.94. The company has a current ratio of 1.21, a quick ratio of 1.17 and a debt-to-equity ratio of 0.17.

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

Formula Systems (1985) Announces Dividend

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

Institutional Trading of Formula Systems (1985)

An institutional investor recently bought a new position in Formula Systems (1985) stock. Elevation Point Wealth Partners LLC bought a new position in Formula Systems (1985) Ltd. (NASDAQ:FORTY - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,740 shares of the technology company's stock, valued at approximately $222,000. Institutional investors and hedge funds 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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