Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Down – Here’s Why

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) gapped down before the market opened on Monday . The stock had previously closed at $161.04, but opened at $149.75. Formula Systems (1985) shares last traded at $149.47, with a volume of 420 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Formula Systems (1985) in a research note on Tuesday, November 11th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Formula Systems (1985) Trading Up 0.2%

The company has a current ratio of 1.21, a quick ratio of 1.17 and a debt-to-equity ratio of 0.17. The business has a 50 day moving average of $145.00 and a two-hundred day moving average of $127.80. The firm has a market cap of $2.47 billion, a P/E ratio of 32.46 and a beta of 0.94.

Formula Systems (1985) (NASDAQ:FORTY) last issued its quarterly earnings data on Thursday, November 20th. The technology company reported $0.73 earnings per share (EPS) for the quarter. Formula Systems (1985) had a return on equity of 5.58% and a net margin of 2.70%.The company had revenue of $696.64 million during the quarter.

Hedge Funds Weigh In On Formula Systems (1985)

Several hedge funds and other institutional investors have recently modified their holdings of the business. Elevation Point Wealth Partners LLC acquired a new stake in Formula Systems (1985) in the second quarter valued at about $222,000. Raymond James Financial Inc. acquired a new stake in Formula Systems (1985) during the 2nd quarter valued at approximately $73,000. CX Institutional bought a new position in Formula Systems (1985) during the third quarter worth $398,000. Finally, GHP Investment Advisors Inc. raised its position in shares of Formula Systems (1985) by 10.8% in the 3rd quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock worth $1,082,000 after acquiring an additional 755 shares in the last quarter. Institutional investors 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.