Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Down – What’s Next?

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s share price gapped down prior to trading on Monday . The stock had previously closed at $135.70, but opened at $128.81. Formula Systems (1985) shares last traded at $128.81, with a volume of 419 shares traded.

Analyst Upgrades and Downgrades

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

Formula Systems (1985) Stock Performance

The company has a quick ratio of 1.61, a current ratio of 1.63 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.97 billion, a P/E ratio of 3.36 and a beta of 1.10. The stock has a fifty day moving average of $124.54 and a 200-day moving average of $147.25.

Formula Systems (1985) (NASDAQ:FORTY) last posted its quarterly earnings data on Thursday, March 26th. The technology company reported $35.03 earnings per share (EPS) for the quarter. The business had revenue of $708.38 million during the quarter. Formula Systems (1985) had a return on equity of 3.24% and a net margin of 20.89%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in Formula Systems (1985) during the second quarter valued at approximately $73,000. CX Institutional acquired a new position in Formula Systems (1985) during the third quarter valued at approximately $398,000. GHP Investment Advisors Inc. boosted its position in Formula Systems (1985) by 10.8% during the third quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock valued at $1,082,000 after purchasing an additional 755 shares during the last quarter. Finally, Altshuler Shaham Ltd boosted its position in Formula Systems (1985) by 30.8% during the fourth quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company’s stock valued at $1,182,000 after purchasing an additional 1,650 shares during the last quarter. 34.76% of the stock is currently owned by institutional investors.

About Formula Systems (1985)

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.