Formula Systems (1985) (NASDAQ:FORTY) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, ValuEngine reports.
Shares of NASDAQ:FORTY remained flat at $$56.25 during mid-day trading on Thursday. 12 shares of the stock were exchanged, compared to its average volume of 213. The stock has a market capitalization of $829.01 million, a price-to-earnings ratio of 27.17 and a beta of 0.86. The company has a fifty day moving average price of $52.14. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.46 and a current ratio of 1.47. Formula Systems has a 52 week low of $34.50 and a 52 week high of $56.25.
Formula Systems (1985) (NASDAQ:FORTY) last issued its quarterly earnings results on Thursday, May 23rd. The technology company reported $0.58 EPS for the quarter. The company had revenue of $391.35 million for the quarter. Formula Systems (1985) had a net margin of 2.32% and a return on equity of 4.00%.
An institutional investor recently bought a new position in Formula Systems (1985) stock. Jane Street Group LLC purchased a new position in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,805 shares of the technology company’s stock, valued at approximately $207,000. Hedge funds and other institutional investors own 0.07% of the company’s stock.
Formula Systems (1985) Company Profile
Formula Systems (1985) Ltd., through its subsidiaries, provides software, proprietary and non-proprietary software, and software product marketing and support services. The company offers computer and telecommunication infrastructure solutions; computer solutions to computer and communications infrastructures; cloud computing solutions; database and big data services; customer relations management, computer systems management infrastructures, Web world content management, database and data warehouse mining, application integration, database and systems, data management, and software development tools; and professional training courses and advanced professional studies.
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