Formula Systems (1985) (NASDAQ:FORTY) Sets New 52-Week High at $60.36

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $60.36 and last traded at $57.09, with a volume of 141 shares. The stock had previously closed at $57.09.

Separately, ValuEngine lowered Formula Systems (1985) from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st.

The company has a quick ratio of 1.46, a current ratio of 1.47 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average price of $55.05 and a 200-day moving average price of $48.01. The firm has a market capitalization of $841.39 million, a PE ratio of 27.58 and a beta of 0.86.

Formula Systems (1985) (NASDAQ:FORTY) last posted its quarterly earnings results on Thursday, May 23rd. The technology company reported $0.58 earnings per share (EPS) for the quarter. Formula Systems (1985) had a return on equity of 4.00% and a net margin of 2.32%. The business had revenue of $391.35 million during the quarter.

An institutional investor recently bought a new position in Formula Systems (1985) stock. Altshuler Shaham Ltd acquired a new stake in Formula Systems (1985) Ltd. (NASDAQ:FORTY) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,000 shares of the technology company’s stock, valued at approximately $52,000. 0.08% of the stock is owned by institutional investors and hedge funds.

Formula Systems (1985) Company Profile (NASDAQ:FORTY)

Formula Systems (1985) Ltd., through its subsidiaries, provides software, proprietary and non-proprietary software, and software product marketing and support services. The company offers computer and telecommunication infrastructure solutions; computer solutions to computer and communications infrastructures; cloud computing solutions; database and big data services; customer relations management, computer systems management infrastructures, Web world content management, database and data warehouse mining, application integration, database and systems, data management, and software development tools; and professional training courses and advanced professional studies.

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