Formula Systems (1985) (NASDAQ:FORTY) Shares Cross Above 200-Day Moving Average of $103.69

Formula Systems (1985) Ltd. (NASDAQ:FORTY) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $103.69 and traded as high as $118.80. Formula Systems (1985) shares last traded at $117.20, with a volume of 7,638 shares changing hands.

The company has a current ratio of 1.40, a quick ratio of 1.37 and a debt-to-equity ratio of 0.33. The company has a 50-day simple moving average of $120.06 and a 200 day simple moving average of $103.69. The firm has a market cap of $1.79 billion, a PE ratio of 35.84 and a beta of 1.08.

Formula Systems (1985) (NASDAQ:FORTY) last announced its earnings results on Thursday, November 18th. The technology company reported $0.85 earnings per share for the quarter. The business had revenue of $586.26 million during the quarter. Formula Systems (1985) had a return on equity of 4.55% and a net margin of 2.22%.

A number of hedge funds and other institutional investors have recently bought and sold shares of FORTY. Citadel Advisors LLC purchased a new position in shares of Formula Systems (1985) during the 3rd quarter worth $310,000. Fulton Bank N.A. purchased a new position in shares of Formula Systems (1985) during the 4th quarter worth $204,000. BlackRock Inc. grew its holdings in shares of Formula Systems (1985) by 96.6% during the 3rd quarter. BlackRock Inc. now owns 1,382 shares of the technology company’s stock worth $136,000 after purchasing an additional 679 shares during the period. Finally, Morgan Stanley grew its holdings in shares of Formula Systems (1985) by 42.9% during the 2nd quarter. Morgan Stanley now owns 1,701 shares of the technology company’s stock worth $153,000 after purchasing an additional 511 shares during the period. 4.99% of the stock is owned by hedge funds and other institutional investors.

About Formula Systems (1985) (NASDAQ:FORTY)

Formula Systems (1985) Ltd. engages in the provision of software solutions and IT professional services. It operates through the following segments: Matrix, Sapiens, Magic Software, and Other. The company was founded on April 2, 1985 and is headquartered in Or Yehuda, Israel.

Featured Story: What are high-yield dividend stocks?

Receive News & Ratings for Formula Systems (1985) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Formula Systems (1985) and related companies with MarketBeat.com's FREE daily email newsletter.