Formula Systems (1985) (NASDAQ:FORTY) Hits New 1-Year High at $60.36

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $60.36 and last traded at $57.09, with a volume of 141 shares trading hands. The stock had previously closed at $57.09.

Separately, ValuEngine downgraded Formula Systems (1985) from a “buy” rating to a “hold” rating in a report on Thursday, August 1st.

The firm has a market capitalization of $841.39 million, a PE ratio of 27.58 and a beta of 0.86. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.46 and a current ratio of 1.47. The firm has a fifty day moving average of $54.60 and a 200 day moving average of $47.77.

Formula Systems (1985) (NASDAQ:FORTY) last announced its earnings results on Thursday, May 23rd. The technology company reported $0.58 EPS for the quarter. Formula Systems (1985) had a return on equity of 4.00% and a net margin of 2.32%. The business had revenue of $391.35 million for the quarter.

An institutional investor recently bought a new position in Formula Systems (1985) stock. Altshuler Shaham Ltd bought a new position in Formula Systems (1985) Ltd. (NASDAQ:FORTY) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,000 shares of the technology company’s stock, valued at approximately $52,000. 0.08% of the stock is owned by institutional investors and hedge funds.

About Formula Systems (1985) (NASDAQ:FORTY)

Formula Systems (1985) Ltd., through its subsidiaries, provides software, proprietary and non-proprietary software, and software product marketing and support services. The company offers computer and telecommunication infrastructure solutions; computer solutions to computer and communications infrastructures; cloud computing solutions; database and big data services; customer relations management, computer systems management infrastructures, Web world content management, database and data warehouse mining, application integration, database and systems, data management, and software development tools; and professional training courses and advanced professional studies.

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