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

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s share price gapped down before the market opened on Monday . The stock had previously closed at $161.04, but opened at $149.75. Formula Systems (1985) shares last traded at $156.40, with a volume of 420 shares.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Monday, November 24th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Formula Systems (1985) Price Performance

The business has a fifty day moving average of $146.27 and a 200 day moving average of $129.73. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.21 and a quick ratio of 1.17. The stock has a market cap of $2.43 billion, a PE ratio of 31.86 and a beta of 0.94.

Formula Systems (1985) (NASDAQ:FORTY) last announced its earnings results on Thursday, November 20th. The technology company reported $0.73 earnings per share (EPS) for the quarter. Formula Systems (1985) had a return on equity of 5.58% and a net margin of 2.70%.The company had revenue of $696.64 million for the quarter.

Institutional Investors Weigh In On Formula Systems (1985)

A number of institutional investors have recently modified their holdings of FORTY. Raymond James Financial Inc. bought a new position in Formula Systems (1985) during the 2nd quarter worth approximately $73,000. GHP Investment Advisors Inc. lifted its stake in Formula Systems (1985) by 10.8% during the third quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock worth $1,082,000 after purchasing an additional 755 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new position in Formula Systems (1985) in the second quarter worth $222,000. Finally, CX Institutional bought a new stake in Formula Systems (1985) during the third quarter valued at $398,000. 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.