Formula Systems (1985) (NASDAQ:FORTY) Sees Unusually-High Trading Volume – What’s Next?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares saw unusually-high trading volume on Tuesday . Approximately 743 shares changed hands during mid-day trading, an increase of 34% from the previous session’s volume of 553 shares.The stock last traded at $121.25 and had previously closed at $121.31.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Formula Systems (1985) in a report on Friday, March 27th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold”.

Formula Systems (1985) Trading Up 9.4%

The company has a market cap of $2.00 billion, a price-to-earnings ratio of 3.41 and a beta of 1.10. The company’s fifty day moving average is $125.70 and its two-hundred day moving average is $147.45. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.61 and a current ratio of 1.63.

Formula Systems (1985) (NASDAQ:FORTY) last issued its quarterly earnings data on Thursday, March 26th. The technology company reported $35.03 EPS for the quarter. The business had revenue of $708.38 million for the quarter. Formula Systems (1985) had a net margin of 20.89% and a return on equity of 3.24%.

Institutional Investors Weigh In On Formula Systems (1985)

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in shares of Formula Systems (1985) during the 2nd quarter worth approximately $73,000. GHP Investment Advisors Inc. grew its stake in shares of 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 worth $1,082,000 after purchasing an additional 755 shares during the period. Altshuler Shaham Ltd grew its stake in shares of Formula Systems (1985) by 30.8% during the 4th quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company’s stock worth $1,182,000 after purchasing an additional 1,650 shares during the period. Finally, CX Institutional acquired a new stake in shares of Formula Systems (1985) during the 3rd quarter worth approximately $398,000. Institutional investors and hedge funds 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.