Formula Systems (1985) (NASDAQ:FORTY) Stock Price Down 7.3% – Here’s What Happened

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares dropped 7.3% during mid-day trading on Thursday . The stock traded as low as $87.99 and last traded at $84.14. Approximately 833 shares changed hands during mid-day trading, a decline of 0% from the average daily volume of 836 shares. The stock had previously closed at $90.73.

Formula Systems (1985) Price Performance

The stock has a market capitalization of $1.38 billion, a P/E ratio of 18.68 and a beta of 1.10. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.41. The business has a fifty day simple moving average of $93.41 and a 200-day simple moving average of $87.21.

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Formula Systems (1985) stock. Altshuler Shaham Ltd lifted its position in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 7.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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. 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.