Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Down – Should You Sell?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) gapped down prior to trading on Friday . The stock had previously closed at $86.00, but opened at $80.15. Formula Systems (1985) shares last traded at $83.05, with a volume of 3,640 shares.

Formula Systems (1985) Stock Down 3.4 %

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 business’s fifty day moving average price is $88.18 and its two-hundred day moving average price is $81.07. The stock has a market capitalization of $1.27 billion, a PE ratio of 17.23 and a beta of 1.07.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Formula Systems (1985) stock. Altshuler Shaham Ltd grew its position in Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 52.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,711 shares of the technology company’s stock after acquiring an additional 2,303 shares during the quarter. Altshuler Shaham Ltd’s holdings in Formula Systems (1985) were worth $478,000 as of its most recent SEC filing. 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.