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

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $99.33, but opened at $96.70. Formula Systems (1985) shares last traded at $95.65, with a volume of 163 shares changing hands.

Formula Systems (1985) Stock Down 2.2 %

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 business has a 50 day simple moving average of $92.59 and a 200 day simple moving average of $86.62. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 20.15 and a beta of 1.10.

Hedge Funds Weigh In On Formula Systems (1985)

An institutional investor recently raised its position in Formula Systems (1985) stock. Altshuler Shaham Ltd grew its holdings in Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 7.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,385 shares of the technology company’s stock after acquiring an additional 450 shares during the period. Altshuler Shaham Ltd’s holdings in Formula Systems (1985) were worth $536,000 as of its most recent filing with the Securities & Exchange Commission. 34.76% of the stock is owned by institutional investors and hedge funds.

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.