Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Down to $81.22

Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report)'s share price gapped down before the market opened on Thursday . The stock had previously closed at $81.22, but opened at $77.71. Formula Systems (1985) shares last traded at $77.29, with a volume of 263 shares trading hands.

Formula Systems (1985) Stock Down 7.6 %

The company has a market cap of $1.15 billion, a price-to-earnings ratio of 18.16 and a beta of 1.08. The company has a current ratio of 1.39, a quick ratio of 1.35 and a debt-to-equity ratio of 0.24. The firm's fifty day moving average price is $74.22 and its 200-day moving average price is $67.27.

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

Formula Systems (1985) Announces Dividend

The business also recently announced a Variable dividend, which will be paid on Monday, April 29th. Investors of record on Thursday, April 4th will be paid a $0.63 dividend. This represents a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, April 3rd. Formula Systems (1985)'s payout ratio is presently 10.90%.

Hedge Funds Weigh In On Formula Systems (1985)

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FORTY. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of Formula Systems (1985) during the 4th quarter worth about $53,581,000. Jane Street Group LLC boosted its stake in shares of Formula Systems (1985) by 274.2% during the 4th quarter. Jane Street Group LLC now owns 13,351 shares of the technology company's stock worth $946,000 after buying an additional 9,783 shares during the last quarter. FMR LLC boosted its stake in shares of Formula Systems (1985) by 78.8% during the 2nd quarter. FMR LLC now owns 18,409 shares of the technology company's stock worth $1,708,000 after buying an additional 8,116 shares during the last quarter. UBS Group AG acquired a new position in shares of Formula Systems (1985) during the 3rd quarter worth about $119,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Formula Systems (1985) by 43.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,998 shares of the technology company's stock worth $392,000 after buying an additional 1,219 shares during the last 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.