Yelin Lapidot Holdings Management Ltd.

disclosed that they own 50% of Formula Systems (1985) Ltd. (NASDAQ:FORTY) in a Schedule 13G disclosure that was filed with the SEC on Friday, August 11th. The investor owns 809,706 shares of the stock worth about $28,760,838. The reporting parties listed on the disclosure included Dov Yelin, Yair Lapidot and Yelin Lapidot Holdings Management Ltd. The disclosure is available through EDGAR at this link.

Yelin Lapidot Holdings Management Ltd.

provided the following explanation of their ownership:

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Separately, Sawtooth Solutions LLC increased its position in Formula Systems (1985) by 8.6% in the second quarter. Sawtooth Solutions LLC now owns 12,433 shares of the technology company’s stock valued at $458,000 after buying an additional 980 shares in the last quarter. Hedge funds and other institutional investors own 0.11% of the company’s stock.

Formula Systems (NASDAQ FORTY) traded up 0.0000% during trading on Friday, hitting $35.5201. 1 shares of the stock traded hands. The company’s 50 day moving average price is $38.08 and its 200-day moving average price is $39.67. The stock has a market cap of $508.04 million, a P/E ratio of 28.3934 and a beta of 0.75. Formula Systems has a 52-week low of $35.52 and a 52-week high of $44.20.

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Formula Systems (1985) Company Profile

Formula Systems (1985) Ltd. (Formula) is a global information technology (IT) solutions and services holding company. The Company, through its directly held subsidiary and affiliated companies, is engaged in providing software solutions and services, software product marketing and support, computer infrastructure and integration solutions, and learning and integration.

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