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

Formula Systems (1985) (NASDAQ:FORTY) released its quarterly earnings data 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 21.57% and a return on equity of 4.34%. The firm had revenue of $782.44 million during the quarter.

Formula Systems (1985) Stock Up 3.3%

FORTY stock opened at $121.36 on Thursday. The company’s 50 day moving average price is $109.71 and its 200 day moving average price is $122.32. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 3.05 and a beta of 1.20. Formula Systems has a fifty-two week low of $102.01 and a fifty-two week high of $190.56. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.66 and a current ratio of 1.68.

Institutional Investors Weigh In On Formula Systems (1985)

A hedge fund recently bought a new position in Formula Systems (1985) stock. Raymond James Financial Inc. bought a new stake in Formula Systems (1985) Ltd. (NASDAQ:FORTY) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 568 shares of the technology company’s stock, valued at approximately $73,000. 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.