Formula Systems (1985) (NASDAQ:FORTY) Trading Up 11.9% – Time to Buy?

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s share price rose 11.9% on Wednesday . The company traded as high as $148.20 and last traded at $148.20. Approximately 113 shares were traded during trading, a decline of 80% from the average daily volume of 558 shares. The stock had previously closed at $132.48.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Formula Systems (1985) in a report on Friday, March 27th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Formula Systems (1985) Stock Up 4.3%

The company’s fifty day moving average price is $126.59 and its 200-day moving average price is $146.60. The stock has a market capitalization of $2.27 billion, a PE ratio of 3.87 and a beta of 1.17. The company has a quick ratio of 1.61, a current ratio of 1.63 and a debt-to-equity ratio of 0.07.

Formula Systems (1985) (NASDAQ:FORTY) last released its earnings results on Thursday, March 26th. The technology company reported $35.03 earnings per share (EPS) for the quarter. The firm had revenue of $708.38 million during the quarter. Formula Systems (1985) had a net margin of 20.89% and a return on equity of 3.24%.

Institutional Investors Weigh In On Formula Systems (1985)

A number of large investors have recently added to or reduced their stakes in the stock. Elevation Point Wealth Partners LLC bought a new stake in Formula Systems (1985) in the 1st quarter worth approximately $206,000. Altshuler Shaham Ltd grew its position in Formula Systems (1985) by 30.8% in the 4th quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company’s stock worth $1,182,000 after purchasing an additional 1,650 shares during the period. GHP Investment Advisors Inc. grew its position in 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 worth $1,082,000 after purchasing an additional 755 shares during the period. CX Institutional bought a new stake in Formula Systems (1985) in the 3rd quarter worth approximately $398,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Formula Systems (1985) during the 2nd quarter worth $73,000. Institutional investors own 34.76% of the company’s stock.

About Formula Systems (1985)

Formula Systems (1985) Ltd is an Israeli publicly traded holding company specializing in the software and information technology sectors. Founded in 1985 and listed on NASDAQ under the ticker FORTY, the company focuses on acquiring, investing in and developing independent software firms. Its core mission is to foster innovation in enterprise software, cybersecurity and digital transformation solutions.

The company’s principal activities center on holding controlling and significant equity stakes in several market-leading software enterprises.