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

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) dropped 7.4% during trading on Friday . The company traded as low as $92.89 and last traded at $88.88. Approximately 1,528 shares changed hands during 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 Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 1.41 and a quick ratio of 1.38. The stock’s 50-day simple moving average is $92.96 and its 200 day simple moving average is $86.74. The stock has a market capitalization of $1.42 billion, a P/E ratio of 19.21 and a beta of 1.10.

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

Institutional Investors Weigh In On Formula Systems (1985)

An institutional investor recently raised its position in Formula Systems (1985) stock. Altshuler Shaham Ltd boosted its stake in Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 7.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 currently owned by hedge funds and other institutional investors.

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.