Formula Systems (1985) (NASDAQ:FORTY) Sets New 1-Year High – Should You Buy?

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $96.50 and last traded at $96.50, with a volume of 476 shares changing hands. The stock had previously closed at $89.30.

Formula Systems (1985) Trading Up 8.1 %

The company’s fifty day simple moving average is $83.24 and its two-hundred day simple moving average is $78.51. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 20.03 and a beta of 1.08. The company has a quick ratio of 1.38, a current ratio of 1.41 and a debt-to-equity ratio of 0.22.

Institutional Investors Weigh In On Formula Systems (1985)

A hedge fund recently bought a new stake in Formula Systems (1985) stock. Jane Street Group LLC bought a new position in Formula Systems (1985) Ltd. (NASDAQ:FORTY) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,772 shares of the technology company’s stock, valued at approximately $222,000. 34.76% of the stock is currently owned by hedge funds and other institutional investors.

Formula Systems (1985) Company Profile

Formula Systems (1985) Ltd., 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.