Formula Systems (1985) (NASDAQ:FORTY) Posts Earnings Results

Formula Systems (1985) (NASDAQ:FORTY) issued its quarterly earnings data on Tuesday. The technology company reported $1.47 earnings per share for the quarter, Zacks reports. Formula Systems (1985) had a return on equity of 4.01% and a net margin of 21.58%.

Formula Systems (1985) Stock Performance

NASDAQ FORTY opened at $115.25 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.68 and a quick ratio of 1.66. Formula Systems has a 1-year low of $102.01 and a 1-year high of $190.56. The business has a 50 day simple moving average of $109.71 and a two-hundred day simple moving average of $122.51. The stock has a market capitalization of $1.77 billion, a PE ratio of 2.93 and a beta of 1.20.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Formula Systems (1985) stock. Raymond James Financial Inc. purchased a new stake in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 568 shares of the technology company’s stock, valued at approximately $73,000. 34.76% of the stock is currently 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.