Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Up – Still a Buy?

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $125.99, but opened at $134.88. Formula Systems (1985) shares last traded at $134.88, with a volume of 215 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Formula Systems (1985) in a research note on Monday, December 29th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold”.

Formula Systems (1985) Trading Up 7.1%

The stock has a market cap of $2.07 billion, a P/E ratio of 29.71 and a beta of 1.13. The company has a 50-day moving average price of $142.32 and a two-hundred day moving average price of $149.12. The company has a current ratio of 1.60, a quick ratio of 1.58 and a debt-to-equity ratio of 0.15.

Hedge Funds Weigh In On Formula Systems (1985)

Several hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. purchased a new stake in Formula Systems (1985) in the second quarter worth $73,000. Elevation Point Wealth Partners LLC bought a new position in shares of Formula Systems (1985) in the second quarter worth about $222,000. CX Institutional purchased a new position in Formula Systems (1985) in the 3rd quarter worth about $398,000. Altshuler Shaham Ltd increased its stake in Formula Systems (1985) by 30.8% in the 4th quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company’s stock worth $1,182,000 after buying an additional 1,650 shares during the period. Finally, GHP Investment Advisors Inc. lifted its holdings in Formula Systems (1985) by 10.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock valued at $1,082,000 after buying an additional 755 shares in the last quarter. Institutional investors own 34.76% of the company’s stock.

About Formula Systems (1985)

Formula Systems (1985) Ltd is an Israeli publicly traded holding company specializing in the software and information technology sectors. Founded in 1985 and listed on NASDAQ under the ticker FORTY, the company focuses on acquiring, investing in and developing independent software firms. Its core mission is to foster innovation in enterprise software, cybersecurity and digital transformation solutions.

The company’s principal activities center on holding controlling and significant equity stakes in several market-leading software enterprises.