Formula Systems (1985) (NASDAQ:FORTY) Sees Large Volume Increase – Here’s Why

Formula Systems (1985) Ltd. (NASDAQ:FORTY) saw unusually-high trading volume on Friday . Approximately 556 shares traded hands during trading, an increase of 2% from the previous session’s volume of 546 shares.The stock last traded at $146.00 and had previously closed at $142.14.

Wall Street Analysts Forecast Growth

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

Formula Systems (1985) Stock Performance

The firm has a fifty day moving average of $127.68 and a 200 day moving average of $146.63. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.63 and a quick ratio of 1.61. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 3.81 and a beta of 1.17.

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. Formula Systems (1985) had a return on equity of 3.24% and a net margin of 20.89%.The business had revenue of $708.38 million during the quarter.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of Formula Systems (1985) by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock worth $391,000 after purchasing an additional 86 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new position in Formula Systems (1985) in the first quarter worth approximately $206,000. 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 worth $1,182,000 after buying an additional 1,650 shares during the last quarter. GHP Investment Advisors Inc. grew its position 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 purchasing an additional 755 shares in the last quarter. Finally, CX Institutional purchased a new position in Formula Systems (1985) during the 3rd quarter worth approximately $398,000. 34.76% of the stock is owned by hedge funds and other institutional investors.

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.