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Formula Systems (1985) Ltd. (NASDAQ:FORTY – Get Free Report)’s share price passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $125.58 and traded as low as $119.70. Formula Systems (1985) shares last traded at $122.00, with a volume of 6,769 shares.
Analysts Set New Price Targets
Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Thursday, August 27th. One analyst has rated the stock with a Hold rating. According to data from MarketBeat, Formula Systems (1985) has a consensus rating of “Hold”.
View Our Latest Report on Formula Systems (1985)
Formula Systems (1985) Stock Performance
The company has a market cap of $1.87 billion, a P/E ratio of 3.06 and a beta of 1.25. The business’s 50 day simple moving average is $119.72 and its 200 day simple moving average is $125.58. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.13.
Formula Systems (1985) (NASDAQ:FORTY – Get Free Report) last announced its quarterly earnings data on Wednesday, August 26th. The technology company reported $1.47 earnings per share (EPS) for the quarter. Formula Systems (1985) had a net margin of 21.57% and a return on equity of 4.38%.
Formula Systems (1985) Announces Dividend
The firm also recently declared a special dividend, which was paid on Friday, October 16th. Investors of record on Tuesday, September 22nd were issued a $1.63 dividend. The ex-dividend date of this dividend was Tuesday, September 22nd. Formula Systems (1985)’s payout ratio is currently 6.03%.
Institutional Investors Weigh In On Formula Systems (1985)
A number of institutional investors have recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd raised its position in shares of Formula Systems (1985) by 10.4% during the first quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock valued at $926,000 after buying an additional 727 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Formula Systems (1985) by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock worth $391,000 after buying an additional 86 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of Formula Systems (1985) during the first quarter worth $206,000. 34.76% of the stock is owned by hedge funds and other institutional investors.
About Formula Systems (1985)
Formula Systems (1985) Ltd. is an Israel-based holding company that invests in and manages technology businesses. Established in 1985, the company focuses primarily on software, information technology services and technology-enabled business solutions through its principal operating subsidiaries.
Formula Systems’ portfolio includes Matrix IT, an Israeli provider of systems integration, consulting, outsourcing, cloud, cybersecurity and other information technology services; Magic Software Enterprises, which provides software development, digital transformation, cloud, data and application integration services; and Sapiens International, a provider of software platforms and solutions for the insurance, financial services and retirement markets.
Through these businesses, Formula Systems serves customers in Israel and international markets, including North America, Europe and the Asia-Pacific region.
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