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

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) 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 changing hands.

Formula Systems (1985) Price Performance

The stock has a 50 day moving average of $90.78 and a two-hundred day moving average of $83.16. 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 firm has a market capitalization of $1.47 billion, a P/E ratio of 19.95 and a beta of 1.07.

Formula Systems (1985) (NASDAQ:FORTY) last released its earnings results 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 Trading of Formula Systems (1985)

An institutional investor recently bought a new position in Formula Systems (1985) stock. Jane Street Group LLC purchased a new stake in Formula Systems (1985) Ltd. (NASDAQ:FORTY) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,772 shares of the technology company’s stock, valued at approximately $222,000. Institutional investors and hedge funds own 34.76% of the company’s stock.

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.