Formula Systems (1985) (NASDAQ:FORTY) Shares Down 5.8% – Should You Sell?

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s stock price dropped 5.8% during trading on Friday . The stock traded as low as $149.75 and last traded at $151.6350. Approximately 420 shares changed hands during trading, a decline of 50% from the average daily volume of 845 shares. The stock had previously closed at $161.04.

Analyst Ratings Changes

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

Formula Systems (1985) Price Performance

The company has a debt-to-equity ratio of 0.17, a current ratio of 1.21 and a quick ratio of 1.17. The company has a market cap of $2.33 billion, a PE ratio of 30.51 and a beta of 0.94. The company has a 50-day moving average price of $146.11 and a two-hundred day moving average price of $128.96.

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

Institutional Trading of Formula Systems (1985)

A number of hedge funds and other institutional investors have recently modified their holdings of FORTY. CX Institutional acquired a new position in shares of Formula Systems (1985) in the third quarter worth about $398,000. Elevation Point Wealth Partners LLC purchased a new stake in Formula Systems (1985) during the 2nd quarter worth approximately $222,000. 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 valued at $1,082,000 after purchasing an additional 755 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Formula Systems (1985) during the 2nd quarter valued at approximately $73,000. 34.76% of the stock is owned by hedge funds and other institutional investors.

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.