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

Formula Systems (1985) (NASDAQ:FORTY) announced its quarterly 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 Performance

Shares of NASDAQ:FORTY opened at $117.51 on Wednesday. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 2.99 and a beta of 1.20. The company has a 50-day moving average price of $109.66 and a 200-day moving average price of $122.36. The company has a current ratio of 1.68, a quick ratio of 1.66 and a debt-to-equity ratio of 0.12. Formula Systems has a 12 month low of $102.01 and a 12 month high of $190.56.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Formula Systems (1985) stock. Raymond James Financial Inc. purchased a new stake in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 568 shares of the technology company’s stock, valued at approximately $73,000. 34.76% of the stock is owned by institutional investors and hedge funds.

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.