Formula Systems (1985) (NASDAQ:FORTY) Shares Down 2.7%

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTYGet Free Report) were down 2.7% during mid-day trading on Tuesday . The stock traded as low as $71.72 and last traded at $71.72. Approximately 100 shares traded hands during trading, a decline of 80% from the average daily volume of 512 shares. The stock had previously closed at $73.73.

Formula Systems (1985) Trading Down 2.5 %

The company has a market capitalization of $1.10 billion, a PE ratio of 17.22 and a beta of 1.02. The company’s fifty day moving average is $74.30 and its 200-day moving average is $70.58. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.40 and a quick ratio of 1.36.

Formula Systems (1985) (NASDAQ:FORTYGet Free Report) last issued its quarterly earnings results on Thursday, August 17th. The technology company reported $1.11 earnings per share (EPS) for the quarter. The business had revenue of $655.37 million for the quarter. Formula Systems (1985) had a return on equity of 5.48% and a net margin of 2.50%.

Institutional Investors Weigh In On Formula Systems (1985)

Several hedge funds have recently modified their holdings of FORTY. UBS Group AG purchased a new stake in shares of Formula Systems (1985) in the 3rd quarter valued at approximately $119,000. BlackRock Inc. grew its stake in shares of Formula Systems (1985) by 9.7% in the 1st quarter. BlackRock Inc. now owns 1,956 shares of the technology company’s stock valued at $197,000 after buying an additional 173 shares during the period. Jane Street Group LLC purchased a new position in shares of Formula Systems (1985) during the 3rd quarter worth approximately $294,000. Dimensional Fund Advisors LP boosted its position in shares of Formula Systems (1985) by 43.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,998 shares of the technology company’s stock worth $392,000 after purchasing an additional 1,219 shares during the period. Finally, Altshuler Shaham Ltd purchased a new position in shares of Formula Systems (1985) during the 4th quarter worth approximately $952,000. 10.24% of the stock is owned by hedge funds and other institutional investors.

Formula Systems (1985) Company Profile

(Get Free Report)

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.

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