Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Down – Here’s Why

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $87.29, but opened at $84.52. Formula Systems (1985) shares last traded at $84.52, with a volume of 106 shares changing hands.

Formula Systems (1985) Price Performance

The company has a current ratio of 1.41, a quick ratio of 1.38 and a debt-to-equity ratio of 0.22. The company’s fifty day simple moving average is $92.28 and its 200-day simple moving average is $88.39. The stock has a market cap of $1.30 billion, a P/E ratio of 17.57 and a beta of 1.02.

Formula Systems (1985) (NASDAQ:FORTY) last released its quarterly earnings data on Thursday, March 20th. The technology company reported $1.28 earnings per share for the quarter. The company had revenue of $691.50 million for the quarter. Formula Systems (1985) had a return on equity of 5.68% and a net margin of 2.78%.

Formula Systems (1985) Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Wednesday, April 30th will be given a dividend of $0.6855 per share. This is a positive change from Formula Systems (1985)’s previous semi-annual dividend of $0.63. This represents a dividend yield of 1%. The ex-dividend date is Wednesday, April 30th. Formula Systems (1985)’s payout ratio is presently 26.92%.

Institutional Trading of Formula Systems (1985)

A hedge fund recently bought a new stake in Formula Systems (1985) stock. Jane Street Group LLC acquired a new position in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 2,772 shares of the technology company’s stock, valued at approximately $222,000. 34.76% of the stock is currently owned by hedge funds and other institutional investors.

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.