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

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) gapped down before the market opened on Tuesday . The stock had previously closed at $93.75, but opened at $89.20. Formula Systems (1985) shares last traded at $89.33, with a volume of 4,789 shares changing hands.

Formula Systems (1985) Stock Down 2.3 %

The stock has a fifty day simple moving average of $93.33 and a two-hundred day simple moving average of $87.11. The firm has a market cap of $1.40 billion, a PE ratio of 19.00 and a beta of 1.10. The company has a current ratio of 1.41, a quick ratio of 1.38 and a debt-to-equity ratio of 0.22.

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Formula Systems (1985) stock. Altshuler Shaham Ltd increased its position in Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 7.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,385 shares of the technology company’s stock after buying an additional 450 shares during the quarter. Altshuler Shaham Ltd’s holdings in Formula Systems (1985) were worth $536,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds 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.