Formula Systems (1985) (NASDAQ:FORTY) Releases Quarterly Earnings Results

Formula Systems (1985) (NASDAQ:FORTY) released its quarterly earnings results on Tuesday. The technology company reported $1.47 EPS for the quarter, Zacks reports. Formula Systems (1985) had a net margin of 21.58% and a return on equity of 4.01%.

Formula Systems (1985) Price Performance

Shares of NASDAQ:FORTY opened at $115.25 on Tuesday. The firm’s 50 day moving average is $109.71 and its two-hundred day moving average is $122.51. Formula Systems has a 52 week low of $102.01 and a 52 week high of $190.56. The firm has a market capitalization of $1.77 billion, a P/E ratio of 2.93 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.

Institutional Trading of Formula Systems (1985)

A hedge fund recently bought a new stake in Formula Systems (1985) stock. Raymond James Financial Inc. purchased a new position in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 568 shares of the technology company’s stock, valued at approximately $73,000. Hedge funds and other institutional investors own 34.76% of the company’s stock.

Formula Systems (1985) Company Profile

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.