Formula Systems (1985) (NASDAQ:FORTY) Sees Unusually-High Trading Volume – Here’s Why

Formula Systems (1985) Ltd. (NASDAQ:FORTY) saw an uptick in trading volume on Tuesday . 727 shares traded hands during mid-day trading, an increase of 19% from the previous session’s volume of 613 shares.The stock last traded at $116.21 and had previously closed at $109.88.

Formula Systems (1985) Stock Up 5.8%

The business has a fifty day simple moving average of $109.99 and a 200 day simple moving average of $124.23. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.68 and a quick ratio of 1.66. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 2.96 and a beta of 1.20.

Formula Systems (1985) (NASDAQ:FORTY) last released its earnings results on Thursday, May 28th. The technology company reported $2.25 earnings per share (EPS) for the quarter. Formula Systems (1985) had a net margin of 21.58% and a return on equity of 4.01%. The business had revenue of $738.29 million during the quarter.

Institutional Investors Weigh In On Formula Systems (1985)

A number of hedge funds have recently modified their holdings of the company. Altshuler Shaham Ltd boosted its holdings in Formula Systems (1985) by 10.4% in the 1st quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock valued at $926,000 after purchasing an additional 727 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Formula Systems (1985) by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock valued at $391,000 after purchasing an additional 86 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in shares of Formula Systems (1985) during the first quarter worth $206,000. Finally, Raymond James Financial Inc. purchased a new stake in Formula Systems (1985) during the 2nd quarter worth about $73,000. Hedge funds and other institutional investors own 34.76% of the company’s stock.

Formula Systems (1985) Company Profile

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.