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

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

Formula Systems (1985) Stock Up 0.9 %

The company has a 50 day simple moving average of $88.21 and a 200 day simple moving average of $81.76. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.41.

Hedge Funds Weigh In On Formula Systems (1985)

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% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,711 shares of the technology company’s stock after buying an additional 2,303 shares during the quarter. Altshuler Shaham Ltd’s holdings in Formula Systems (1985) were worth $478,000 at the end of the most recent quarter. 34.76% of the stock is 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.