Formula Systems (1985) (NASDAQ:FORTY) Sees Large Volume Increase – Still a Buy?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares saw unusually-high trading volume on Tuesday . Approximately 727 shares changed hands during mid-day trading, an increase of 19% from the previous session’s volume of 613 shares.The stock last traded at $116.21 and had previously closed at $109.88.

Formula Systems (1985) Stock Performance

The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 2.96 and a beta of 1.20. The company has a current ratio of 1.68, a quick ratio of 1.66 and a debt-to-equity ratio of 0.12. The firm’s fifty day moving average price is $109.99 and its 200-day moving average price is $124.23.

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

Hedge Funds Weigh In On Formula Systems (1985)

Large investors have recently bought and sold shares of the company. Elevation Point Wealth Partners LLC acquired a new stake in shares of Formula Systems (1985) in the 1st quarter worth $206,000. Altshuler Shaham Ltd increased its position in shares of Formula Systems (1985) by 30.8% in the fourth quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company’s stock valued at $1,182,000 after buying an additional 1,650 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Formula Systems (1985) during the 2nd quarter worth approximately $73,000. Finally, Dimensional Fund Advisors LP raised its stake in 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 purchasing an additional 86 shares during the last quarter. Hedge funds and other 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.