Formula Systems (1985) (NASDAQ:FORTY) Sees Unusually-High Trading Volume – Here’s Why

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares saw unusually-high trading volume on Thursday . Approximately 928 shares were traded during trading, an increase of 68% from the previous session’s volume of 551 shares.The stock last traded at $141.44 and had previously closed at $138.89.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Friday, March 27th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold”.

Formula Systems (1985) Stock Up 1.8%

The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.61 and a current ratio of 1.63. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 3.69 and a beta of 1.17. The firm has a 50-day moving average price of $129.72 and a two-hundred day moving average price of $146.67.

Institutional Trading of Formula Systems (1985)

A number of institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its stake in shares of Formula Systems (1985) by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock valued at $391,000 after buying an additional 86 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new position in Formula Systems (1985) in the 1st quarter valued at about $206,000. Altshuler Shaham Ltd lifted its position in Formula Systems (1985) by 30.8% during the fourth quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company’s stock worth $1,182,000 after buying an additional 1,650 shares during the period. GHP Investment Advisors Inc. raised its holdings 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 worth $1,082,000 after purchasing an additional 755 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Formula Systems (1985) in the 2nd quarter worth about $73,000. 34.76% of the stock is currently owned by hedge funds and other institutional investors.

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.