Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Down to $74.60

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $74.60, but opened at $72.52. Formula Systems (1985) shares last traded at $72.52, with a volume of 141 shares trading hands.

Formula Systems (1985) Price Performance

The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.35 and a current ratio of 1.39. The company’s fifty day simple moving average is $77.00 and its two-hundred day simple moving average is $67.66. The stock has a market capitalization of $1.15 billion, a PE ratio of 18.06 and a beta of 1.08.

Formula Systems (1985) (NASDAQ:FORTY) last posted its earnings results on Tuesday, March 19th. The technology company reported $1.01 earnings per share for the quarter. Formula Systems (1985) had a net margin of 2.44% and a return on equity of 5.17%. The firm had revenue of $640.29 million during the quarter.

Formula Systems (1985) Announces Dividend

The company also recently declared a Variable dividend, which will be paid on Monday, April 29th. Shareholders of record on Thursday, April 4th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a dividend yield of 1.1%. Formula Systems (1985)’s dividend payout ratio is currently 21.55%.

Institutional Investors Weigh In On Formula Systems (1985)

Several hedge funds have recently modified their holdings of the company. Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of Formula Systems (1985) in the fourth quarter worth approximately $53,581,000. Altshuler Shaham Ltd boosted its position in shares of Formula Systems (1985) by 6.3% in the fourth quarter. Altshuler Shaham Ltd now owns 14,251 shares of the technology company’s stock worth $945,000 after acquiring an additional 850 shares during the last quarter. Finally, TFG Advisers LLC boosted its position in shares of Formula Systems (1985) by 10.7% in the third quarter. TFG Advisers LLC now owns 7,529 shares of the technology company’s stock worth $566,000 after acquiring an additional 730 shares during the last quarter. 34.76% of the stock is owned by institutional investors and hedge funds.

About Formula Systems (1985)

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.