Formula Systems (1985) (NASDAQ:FORTY) Releases Quarterly Earnings Results

Formula Systems (1985) (NASDAQ:FORTY) issued its earnings results on Tuesday. The technology company reported $1.47 earnings per share (EPS) for the quarter, Zacks reports. Formula Systems (1985) had a net margin of 21.58% and a return on equity of 4.01%.

Formula Systems (1985) Stock Down 0.8%

Shares of NASDAQ:FORTY opened at $115.25 on Tuesday. The company’s fifty day moving average is $109.71 and its two-hundred day moving average is $122.51. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.66 and a current ratio of 1.68. Formula Systems has a 1-year low of $102.01 and a 1-year high of $190.56. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 2.93 and a beta of 1.20.

Institutional Investors Weigh In On Formula Systems (1985)

A hedge fund recently bought a new position in Formula Systems (1985) stock. Raymond James Financial Inc. bought a new position in Formula Systems (1985) Ltd. (NASDAQ:FORTY) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 568 shares of the technology company’s stock, valued at approximately $73,000. 34.76% of the stock is currently owned by hedge funds and other institutional investors.

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.