Formula Systems (1985) (NASDAQ:FORTY) Issues Earnings Results

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

Formula Systems (1985) Trading Down 2.8%

NASDAQ:FORTY traded down $4.40 during trading hours on Thursday, hitting $154.11. The company had a trading volume of 853 shares, compared to its average volume of 848. The company has a current ratio of 1.21, a quick ratio of 1.17 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average of $144.72 and a 200 day moving average of $126.70. The company has a market cap of $2.36 billion, a P/E ratio of 31.01 and a beta of 0.94. Formula Systems has a 1 year low of $80.15 and a 1 year high of $169.03.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Formula Systems (1985) stock. Raymond James Financial Inc. acquired a new position in Formula Systems (1985) Ltd. (NASDAQ:FORTY) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 568 shares of the technology company’s stock, valued at approximately $73,000. Hedge funds and other institutional investors own 34.76% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Formula Systems (1985) in a research note on Tuesday, November 11th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold”.

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.