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

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s stock 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 $149.47, with a volume of 420 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Formula Systems (1985) in a report on Tuesday, November 11th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Formula Systems (1985) has an average rating of “Hold”.

Formula Systems (1985) Stock Up 0.2%

The stock has a market cap of $2.47 billion, a P/E ratio of 32.46 and a beta of 0.94. The company has a quick ratio of 1.17, a current ratio of 1.21 and a debt-to-equity ratio of 0.17. The business has a 50-day simple moving average of $145.00 and a 200-day simple moving average of $127.80.

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

Institutional Investors Weigh In On Formula Systems (1985)

Several large investors have recently modified their holdings of FORTY. GHP Investment Advisors Inc. grew its holdings in Formula Systems (1985) by 10.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock worth $1,082,000 after acquiring an additional 755 shares during the last quarter. CX Institutional acquired a new position in shares of Formula Systems (1985) during the 3rd quarter worth about $398,000. Raymond James Financial Inc. bought a new position in shares of Formula Systems (1985) during the second quarter worth $73,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in shares of Formula Systems (1985) in the 2nd quarter valued at $222,000. 34.76% of the stock is currently owned by institutional investors.

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.