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 Wednesday . The stock had previously closed at $89.37, but opened at $85.72. Formula Systems (1985) shares last traded at $89.79, with a volume of 634 shares traded.

Formula Systems (1985) Stock Performance

The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 18.63 and a beta of 1.07. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.41 and a quick ratio of 1.38. The stock’s 50-day moving average is $88.56 and its 200-day moving average is $82.07.

Formula Systems (1985) (NASDAQ:FORTY) last released its quarterly earnings data on Thursday, November 21st. The technology company reported $1.51 EPS for the quarter. Formula Systems (1985) had a return on equity of 5.68% and a net margin of 2.78%.

Hedge Funds Weigh In On Formula Systems (1985)

A hedge fund recently bought a new stake in Formula Systems (1985) stock. Jane Street Group LLC bought a new stake in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,772 shares of the technology company’s stock, valued at approximately $222,000. Hedge funds and other institutional investors 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.