Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Up – Time to Buy?

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $125.99, but opened at $134.88. Formula Systems (1985) shares last traded at $134.88, with a volume of 215 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Formula Systems (1985) Stock Performance

The stock has a 50 day moving average of $140.96 and a two-hundred day moving average of $148.92. The stock has a market capitalization of $2.07 billion, a PE ratio of 29.71 and a beta of 1.12. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.60 and a quick ratio of 1.58.

Institutional Trading of Formula Systems (1985)

Institutional investors have recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd grew its position in Formula Systems (1985) by 30.8% during the fourth quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company’s stock worth $1,182,000 after buying an additional 1,650 shares during the period. GHP Investment Advisors Inc. increased its stake in Formula Systems (1985) by 10.8% in the 3rd quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock valued at $1,082,000 after purchasing an additional 755 shares in the last quarter. CX Institutional purchased a new position in Formula Systems (1985) in the 3rd quarter valued at approximately $398,000. Raymond James Financial Inc. acquired a new position in Formula Systems (1985) during the second quarter worth $73,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in Formula Systems (1985) during the second quarter worth $222,000. Hedge funds and other institutional investors 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.