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

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $89.00, but opened at $83.70. Formula Systems (1985) shares last traded at $83.00, with a volume of 1,107 shares changing hands.

Formula Systems (1985) Price Performance

The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 17.22 and a beta of 1.08. The company has a 50 day simple moving average of $88.01 and a 200-day simple moving average of $80.57. The company has a quick ratio of 1.38, a current ratio of 1.41 and a debt-to-equity ratio of 0.22.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Formula Systems (1985) stock. Altshuler Shaham Ltd grew its position in Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 52.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,711 shares of the technology company’s stock after purchasing an additional 2,303 shares during the period. Altshuler Shaham Ltd’s holdings in Formula Systems (1985) were worth $478,000 at the end of the most recent quarter. 34.76% of the stock is owned by institutional investors and hedge funds.

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.