Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Down to $75.69

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $75.69, but opened at $74.14. Formula Systems (1985) shares last traded at $74.00, with a volume of 982 shares traded.

Formula Systems (1985) Stock Performance

The stock’s 50 day moving average price is $75.24 and its two-hundred day moving average price is $75.84. The company has a current ratio of 1.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 17.94 and a beta of 1.09.

Formula Systems (1985) (NASDAQ:FORTY) last announced its quarterly earnings results on Wednesday, May 22nd. The technology company reported $1.10 earnings per share for the quarter. Formula Systems (1985) had a return on equity of 5.17% and a net margin of 2.47%. The business had revenue of $698.40 million during the quarter.

Hedge Funds Weigh In On Formula Systems (1985)

A hedge fund recently raised its stake in Formula Systems (1985) stock. Altshuler Shaham Ltd lifted its stake in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 6.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,251 shares of the technology company’s stock after buying an additional 850 shares during the quarter. Altshuler Shaham Ltd owned 0.09% of Formula Systems (1985) worth $945,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 34.76% of the company’s stock.

About Formula Systems (1985)

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.