Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Down - Here's What Happened

Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $93.75, but opened at $89.20. Formula Systems (1985) shares last traded at $89.33, with a volume of 4,789 shares changing hands.

Formula Systems (1985) Trading Down 3.8 %

The company has a market capitalization of $1.33 billion, a P/E ratio of 17.94 and a beta of 1.10. The company has a 50-day simple moving average of $93.38 and a 200 day simple moving average of $87.31. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.41.

Formula Systems (1985) (NASDAQ:FORTY - Get Free Report) last announced its earnings results on Thursday, March 20th. The technology company reported $1.28 earnings per share (EPS) for the quarter. Formula Systems (1985) had a net margin of 2.78% and a return on equity of 5.68%. The business had revenue of $691.50 million for the quarter.

Formula Systems (1985) Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Wednesday, April 30th. This represents a dividend yield of 1%. This is a positive change from Formula Systems (1985)'s previous semi-annual dividend of $0.63. Formula Systems (1985)'s dividend payout ratio is currently 17.49%.

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Institutional Trading of Formula Systems (1985)

A hedge fund recently bought a new stake in Formula Systems (1985) stock. Jane Street Group LLC bought a new position in Formula Systems (1985) Ltd. (NASDAQ:FORTY - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 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.

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.