Formula Systems (1985) (NASDAQ:FORTY) Shares Down 7.4% – Here’s What Happened

Formula Systems (1985) Ltd. (NASDAQ:FORTY) dropped 7.4% during mid-day trading on Friday . The company traded as low as $92.89 and last traded at $88.88. Approximately 1,528 shares traded hands during mid-day trading, an increase of 88% from the average daily volume of 813 shares. The stock had previously closed at $96.00.

Formula Systems (1985) Stock Down 3.6 %

The company has a quick ratio of 1.38, a current ratio of 1.41 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 19.21 and a beta of 1.10. The stock’s fifty day moving average price is $92.96 and its 200-day moving average price is $86.74.

Formula Systems (1985) (NASDAQ:FORTY) last issued its earnings results on Thursday, March 20th. The technology company reported $1.28 earnings per share for the quarter. The business had revenue of $691.50 million for the quarter. Formula Systems (1985) had a net margin of 2.78% and a return on equity of 5.68%.

Hedge Funds Weigh In On Formula Systems (1985)

A hedge fund recently raised its stake in Formula Systems (1985) stock. Altshuler Shaham Ltd boosted its stake in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 7.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,385 shares of the technology company’s stock after purchasing an additional 450 shares during the quarter. Altshuler Shaham Ltd’s holdings in Formula Systems (1985) were worth $536,000 at the end of the most recent reporting period. 34.76% of the stock is owned by institutional investors and hedge funds.

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.