Formula Systems (1985) (NASDAQ:FORTY) Sets New 12-Month High – Still a Buy?

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) reached a new 52-week high during trading on Wednesday . The stock traded as high as $169.03 and last traded at $160.5250, with a volume of 853 shares trading hands. The stock had previously closed at $158.50.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Formula Systems (1985) in a report on Tuesday, November 11th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold”.

Formula Systems (1985) Stock Up 1.3%

The business has a fifty day moving average price of $144.47 and a two-hundred day moving average price of $126.52. The company has a current ratio of 1.21, a quick ratio of 1.17 and a debt-to-equity ratio of 0.17. The company has a market cap of $2.46 billion, a price-to-earnings ratio of 32.30 and a beta of 0.94.

Formula Systems (1985) (NASDAQ:FORTY) last announced its quarterly earnings data on Tuesday, August 19th. The technology company reported $0.95 EPS for the quarter. The firm had revenue of $743.37 million for the quarter. Formula Systems (1985) had a net margin of 2.70% and a return on equity of 5.58%.

Hedge Funds Weigh In On Formula Systems (1985)

A number of hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new stake in Formula Systems (1985) during the second quarter valued at $73,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Formula Systems (1985) during the 2nd quarter worth about $222,000. CX Institutional acquired a new stake in shares of Formula Systems (1985) during the 3rd quarter valued at about $398,000. Finally, GHP Investment Advisors Inc. grew its stake in shares of Formula Systems (1985) by 10.8% in the 3rd quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock valued at $1,082,000 after buying an additional 755 shares in the last quarter. 34.76% of the stock is owned by institutional investors and hedge funds.

Formula Systems (1985) Company Profile

Formula Systems (1985) Ltd., through its subsidiaries, provides proprietary and non-proprietary software solutions, IT professional services, software product marketing and support, computer infrastructure and integration solutions, and learning and integration worldwide. The company offers computer and telecommunication infrastructure solutions; and sells and markets computers and peripheral equipment, and cloud based solutions and services relating to databases and big data.