Formula Systems (1985) (NASDAQ:FORTY) Posts Quarterly Earnings Results
Formula Systems (1985) reported quarterly earnings with $0.73 EPS, a net margin of 2.70%, and a return on equity of 5.58%. The stock fell 5.2% to $150.30. Raymond James Financial Inc. acquired 568 shares. Weiss Ratings issued a 'hold' rating. The company provides software solutions and IT services globally.
Formula Systems (1985) (NASDAQ:FORTY - Get Free Report) issued its quarterly earnings data on Thursday. The technology company reported $0.73 earnings per share (EPS) for the quarter, Zacks reports. Formula Systems (1985) had a return on equity of 5.58% and a net margin of 2.70%.
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Formula Systems (1985) Stock Down 5.2%
Shares of NASDAQ:FORTY traded down $8.20 during midday trading on Thursday, reaching $150.30. The company had a trading volume of 853 shares, compared to its average volume of 848. The stock has a market cap of $2.30 billion, a PE ratio of 30.24 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 business's 50 day moving average price is $144.72 and its 200 day moving average price is $126.70. Formula Systems has a 1-year low of $80.15 and a 1-year high of $169.03.
Hedge Funds Weigh In On Formula Systems (1985)
An institutional investor recently bought a new position in Formula Systems (1985) stock. Raymond James Financial Inc. acquired a new stake in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 568 shares of the technology company's stock, valued at approximately $73,000. 34.76% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reissued a "hold (c-)" rating on shares of Formula Systems (1985) in a research note on Tuesday, November 11th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Hold".
Check Out Our Latest Stock Analysis on Formula Systems (1985)
About Formula Systems (1985)
(Get Free Report)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.
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