Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Up – Should You Buy?

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s share price gapped up before the market opened on Monday . The stock had previously closed at $105.00, but opened at $109.88. Formula Systems (1985) shares last traded at $109.88, with a volume of 401 shares.

Formula Systems (1985) Trading Up 0.6%

The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 2.80 and a beta of 1.20. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.66 and a current ratio of 1.68. The firm has a fifty day moving average price of $110.38 and a 200-day moving average price of $124.63.

Formula Systems (1985) (NASDAQ:FORTY) last posted its quarterly earnings results on Thursday, May 28th. The technology company reported $2.25 EPS for the quarter. Formula Systems (1985) had a return on equity of 4.01% and a net margin of 21.58%.The business had revenue of $738.29 million during the quarter.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FORTY. Altshuler Shaham Ltd increased its holdings in Formula Systems (1985) by 10.4% in the first quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock worth $926,000 after purchasing an additional 727 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Formula Systems (1985) by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock valued at $391,000 after acquiring an additional 86 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new position in shares of Formula Systems (1985) during the 1st quarter valued at $206,000. Finally, Raymond James Financial Inc. bought a new position in Formula Systems (1985) during the second quarter worth $73,000. 34.76% of the stock is owned by institutional investors and hedge funds.

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.