Formula Systems (1985) (NASDAQ:FORTY) Trading Down 6.3% – Time to Sell?

Formula Systems (1985) Ltd. (NASDAQ:FORTY – Get Free Report) shares traded down 6.3% during mid-day trading on Monday . The company traded as low as $129.50 and last traded at $129.50. 244 shares were traded during trading, a decline of 59% from the average session volume of 590 shares. The stock had previously closed at $138.25.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Friday, March 27th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

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Read Our Latest Analysis on FORTY

Formula Systems (1985) Trading Up 2.8%

The stock has a market cap of $1.99 billion, a P/E ratio of 3.29 and a beta of 1.17. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.66 and a current ratio of 1.68. The stock has a 50-day moving average price of $133.16 and a 200-day moving average price of $145.21.

Formula Systems (1985) (NASDAQ:FORTY – Get Free Report) last issued its quarterly earnings results on Thursday, May 28th. The technology company reported $2.25 earnings per share (EPS) for the quarter. The firm had revenue of $738.29 million during the quarter. Formula Systems (1985) had a return on equity of 4.01% and a net margin of 21.58%.

Formula Systems (1985) Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 22nd will be issued a dividend of $13.045 per share. The ex-dividend date of this dividend is Friday, May 22nd. Formula Systems (1985)’s dividend payout ratio (DPR) is currently 27.55%.

Hedge Funds Weigh In On Formula Systems (1985)

A number of large investors have recently modified their holdings of FORTY. Raymond James Financial Inc. purchased a new position in shares of Formula Systems (1985) during the 2nd quarter valued at about $73,000. Altshuler Shaham Ltd raised its holdings in shares of Formula Systems (1985) by 30.8% during the 4th quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company’s stock valued at $1,182,000 after buying an additional 1,650 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new position in shares of Formula Systems (1985) during the 1st quarter valued at about $206,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of 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 buying an additional 86 shares in the last quarter. 34.76% of the stock is owned by hedge funds and other institutional investors.

Formula Systems (1985) Company Profile

(Get Free Report)

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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