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

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares saw strong trading volume on Thursday . 678 shares changed hands during mid-day trading, an increase of 30% from the previous session’s volume of 522 shares.The stock last traded at $124.95 and had previously closed at $125.00.

Analysts Set New Price Targets

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

Formula Systems (1985) Stock Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 1.60 and a quick ratio of 1.58. The stock’s 50-day moving average price is $137.23 and its 200-day moving average price is $148.98. The company has a market cap of $1.92 billion, a P/E ratio of 27.52 and a beta of 1.12.

Formula Systems (1985) (NASDAQ:FORTY) last issued its quarterly earnings data on Thursday, March 26th. The technology company reported $35.03 earnings per share for the quarter. The business had revenue of $708.38 million during the quarter. Formula Systems (1985) had a net margin of 2.49% and a return on equity of 4.55%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Elevation Point Wealth Partners LLC bought a new stake in Formula Systems (1985) during the second quarter worth $222,000. Raymond James Financial Inc. bought a new stake in shares of Formula Systems (1985) during the 2nd quarter worth $73,000. Altshuler Shaham Ltd grew its position in Formula Systems (1985) by 30.8% in the fourth quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company’s stock valued at $1,182,000 after acquiring an additional 1,650 shares during the last quarter. GHP Investment Advisors Inc. raised its stake in Formula Systems (1985) by 10.8% during the third quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock worth $1,082,000 after acquiring an additional 755 shares in the last quarter. Finally, CX Institutional bought a new position in shares of Formula Systems (1985) in the third quarter worth about $398,000. 34.76% of the stock is currently owned by institutional investors and hedge funds.

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.