Formula Systems (1985) (NASDAQ:FORTY) Stock Price Down 4.4% – Here’s What Happened

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares dropped 4.4% on Friday . The stock traded as low as $87.78 and last traded at $84.30. Approximately 116 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 224 shares. The stock had previously closed at $88.20.

Formula Systems (1985) Trading Up 0.9 %

The company has a market capitalization of $1.36 billion, a PE ratio of 18.38 and a beta of 1.07. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.41 and a quick ratio of 1.38. The company’s fifty day moving average is $88.19 and its 200-day moving average is $81.58.

Hedge Funds Weigh In On Formula Systems (1985)

An institutional investor recently bought a new position in Formula Systems (1985) stock. Jane Street Group LLC purchased a new position in Formula Systems (1985) Ltd. (NASDAQ:FORTY) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,772 shares of the technology company’s stock, valued at approximately $222,000. Institutional investors own 34.76% of the company’s stock.

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.