Formula Systems (1985) (NASDAQ:FORTY) Stock Price Down 5.8% – Time to Sell?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares fell 5.8% on Friday . The company traded as low as $161.05 and last traded at $149.28. 853 shares changed hands during trading, an increase of 1% from the average session volume of 848 shares. The stock had previously closed at $158.50.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Formula Systems (1985) in a research note on Tuesday, November 11th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Formula Systems (1985) currently has a consensus rating of “Hold”.

Formula Systems (1985) Stock Down 5.8%

The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of 30.04 and a beta of 0.94. The company has a quick ratio of 1.17, a current ratio of 1.21 and a debt-to-equity ratio of 0.17. The company’s 50 day moving average price is $144.92 and its 200 day moving average price is $126.87.

Formula Systems (1985) (NASDAQ:FORTY) last released its quarterly earnings data on Thursday, November 20th. The technology company reported $0.73 EPS for the quarter. The business had revenue of $696.64 million for the quarter. Formula Systems (1985) had a net margin of 2.70% and a return on equity of 5.58%.

Hedge Funds Weigh In On Formula Systems (1985)

Several hedge funds and other institutional investors have recently made changes to their positions in the company. CX Institutional purchased a new stake in shares of Formula Systems (1985) during the third quarter worth approximately $398,000. Elevation Point Wealth Partners LLC acquired a new stake in Formula Systems (1985) during the 2nd quarter worth $222,000. GHP Investment Advisors Inc. grew its holdings in shares of Formula Systems (1985) by 10.8% during the third quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock worth $1,082,000 after buying an additional 755 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Formula Systems (1985) in the second quarter valued at about $73,000. Hedge funds and other 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.