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

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $97.35, but opened at $92.69. Formula Systems (1985) shares last traded at $96.10, with a volume of 2,146 shares traded.

Formula Systems (1985) Stock Down 1.2 %

The firm has a fifty day simple moving average of $90.78 and a 200-day simple moving average of $83.16. The company has a market capitalization of $1.47 billion, a P/E ratio of 19.95 and a beta of 1.07. The company has a quick ratio of 1.38, a current ratio of 1.41 and a debt-to-equity ratio of 0.22.

Formula Systems (1985) (NASDAQ:FORTY) last posted its quarterly earnings data on Thursday, November 21st. The technology company reported $1.51 earnings per share (EPS) for the quarter. Formula Systems (1985) had a return on equity of 5.68% and a net margin of 2.78%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Formula Systems (1985) stock. Jane Street Group LLC acquired a new stake in Formula Systems (1985) Ltd. (NASDAQ:FORTY) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,772 shares of the technology company’s stock, valued at approximately $222,000. Hedge funds and other institutional investors 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.