Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Up – What’s Next?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) gapped up prior to trading on Monday . The stock had previously closed at $105.00, but opened at $109.88. Formula Systems (1985) shares last traded at $109.88, with a volume of 401 shares changing hands.

Formula Systems (1985) Stock Up 0.6%

The firm has a market capitalization of $1.68 billion, a P/E ratio of 2.80 and a beta of 1.20. The firm’s 50 day moving average is $110.38 and its two-hundred day moving average is $124.63. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.68 and a quick ratio of 1.66.

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

Institutional Investors Weigh In On Formula Systems (1985)

A number of large investors have recently added to or reduced their stakes in FORTY. Altshuler Shaham Ltd lifted its position in Formula Systems (1985) by 10.4% during the first quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock worth $926,000 after acquiring an additional 727 shares during the last quarter. Dimensional Fund Advisors LP grew its stake 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 acquiring an additional 86 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in Formula Systems (1985) during the first quarter worth about $206,000. Finally, Raymond James Financial Inc. acquired a new stake in Formula Systems (1985) in the 2nd quarter worth about $73,000. 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.