Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Up – What’s Next?

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) gapped up before the market opened on Monday . The stock had previously closed at $109.88, but opened at $115.25. Formula Systems (1985) shares last traded at $115.25, with a volume of 565 shares traded.

Formula Systems (1985) Price Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.68 and a quick ratio of 1.66. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 2.93 and a beta of 1.20. The business’s fifty day simple moving average is $109.76 and its 200 day simple moving average is $122.89.

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 return on equity of 4.01% and a net margin of 21.58%.The company had revenue of $738.29 million for the quarter.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FORTY. Raymond James Financial Inc. bought a new position in Formula Systems (1985) during the second quarter valued at about $73,000. Elevation Point Wealth Partners LLC purchased a new position in Formula Systems (1985) in the first quarter valued at about $206,000. Dimensional Fund Advisors LP grew its position in shares of Formula Systems (1985) by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock valued at $391,000 after acquiring an additional 86 shares during the period. Altshuler Shaham Ltd increased its stake in shares of Formula Systems (1985) by 10.4% during the 1st quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock worth $926,000 after purchasing an additional 727 shares during the last quarter. Finally, Field & Main Bank purchased a new stake in shares of Formula Systems (1985) during the 2nd quarter worth approximately $3,072,000. 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.