Formula Systems (1985) (NASDAQ:FORTY) Shares Down 5.8% – Time to Sell?

by · The Cerbat Gem

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY – Get Free Report) fell 5.8% on Friday . The stock traded as low as $149.75 and last traded at $151.6350. 420 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 845 shares. The stock had previously closed at $161.04.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Monday, November 24th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold”.

Read Our Latest Report on Formula Systems (1985)

Formula Systems (1985) Trading Down 5.8%

The company has a 50 day simple moving average of $146.27 and a 200 day simple moving average of $129.57. 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 stock has a market capitalization of $2.33 billion, a PE ratio of 30.51 and a beta of 0.94.

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

Institutional Trading of Formula Systems (1985)

Several hedge funds have recently made changes to their positions in FORTY. Raymond James Financial Inc. purchased a new stake in shares of Formula Systems (1985) in the second quarter valued at about $73,000. Elevation Point Wealth Partners LLC purchased a new stake in Formula Systems (1985) in the 2nd quarter valued at approximately $222,000. CX Institutional purchased a new stake in Formula Systems (1985) in the 3rd quarter valued at approximately $398,000. Finally, GHP Investment Advisors Inc. increased its position 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 purchasing an additional 755 shares during the period. Institutional investors and hedge funds own 34.76% of the company’s stock.

About Formula Systems (1985)

(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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