Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Up – Should You Buy?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) gapped up prior to trading on Monday . The stock had previously closed at $105.00, but opened at $109.88. Formula Systems (1985) shares last traded at $109.88, with a volume of 401 shares changing hands.

Formula Systems (1985) Trading Up 5.8%

The company has a current ratio of 1.68, a quick ratio of 1.66 and a debt-to-equity ratio of 0.12. The business’s 50-day moving average is $109.88 and its two-hundred day moving average is $123.85. The firm has a market cap of $1.78 billion, a P/E ratio of 2.96 and a beta of 1.20.

Formula Systems (1985) (NASDAQ:FORTY) last issued its earnings results on Thursday, May 28th. The technology company reported $2.25 earnings per share (EPS) for the quarter. Formula Systems (1985) had a net margin of 21.58% and a return on equity of 4.01%. The firm had revenue of $738.29 million for the quarter.

Institutional Trading of Formula Systems (1985)

Several hedge funds have recently made changes to their positions in the stock. Altshuler Shaham Ltd boosted its position in Formula Systems (1985) by 10.4% during the 1st quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock valued at $926,000 after purchasing an additional 727 shares during the period. Dimensional Fund Advisors LP increased its position in Formula Systems (1985) by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock worth $391,000 after buying an additional 86 shares during the period. Elevation Point Wealth Partners LLC acquired a new stake in Formula Systems (1985) in the first quarter worth $206,000. Finally, Raymond James Financial Inc. bought a new stake in Formula Systems (1985) in the second quarter valued at $73,000. Institutional investors own 34.76% of the company’s stock.

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.