Formula Systems (1985) (NASDAQ:FORTY) Sees Unusually-High Trading Volume – Still a Buy?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) saw an uptick in trading volume on Thursday . 928 shares changed hands during mid-day trading, an increase of 68% from the previous session’s volume of 551 shares.The stock last traded at $141.44 and had previously closed at $138.89.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Friday, March 27th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Formula Systems (1985) Price Performance

The company has a quick ratio of 1.61, a current ratio of 1.63 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $2.17 billion, a PE ratio of 3.69 and a beta of 1.17. The company has a 50-day moving average of $129.72 and a 200 day moving average of $146.67.

Hedge Funds Weigh In On Formula Systems (1985)

Several large investors have recently modified their holdings of FORTY. Elevation Point Wealth Partners LLC acquired a new position in shares of Formula Systems (1985) in the 1st quarter valued at $206,000. Altshuler Shaham Ltd lifted its stake in 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 acquiring an additional 1,650 shares in the last quarter. GHP Investment Advisors Inc. lifted its stake in 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 acquiring an additional 755 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Formula Systems (1985) during the 2nd quarter worth about $73,000. Finally, Dimensional Fund Advisors LP lifted its stake in Formula Systems (1985) by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock worth $391,000 after acquiring an additional 86 shares in the last quarter. 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.