Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Up – Here’s What Happened

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares gapped up prior to trading on Tuesday . The stock had previously closed at $149.75, but opened at $160.00. Formula Systems (1985) shares last traded at $164.3260, with a volume of 1,572 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Monday, November 24th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Formula Systems (1985) presently has a consensus rating of “Hold”.

Formula Systems (1985) Trading Up 9.7%

The stock has a fifty day moving average of $146.69 and a 200 day moving average of $130.12. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.17 and a current ratio of 1.21. The company has a market capitalization of $2.52 billion, a P/E ratio of 33.06 and a beta of 0.94.

Formula Systems (1985) (NASDAQ:FORTY) last released its earnings results on Thursday, November 20th. The technology company reported $0.73 EPS for the quarter. The company had revenue of $696.64 million for the quarter. Formula Systems (1985) had a net margin of 2.70% and a return on equity of 5.58%.

Institutional Trading of Formula Systems (1985)

Hedge funds have recently made changes to their positions in the business. GHP Investment Advisors Inc. raised its stake in shares of Formula Systems (1985) by 10.8% in the third quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock valued at $1,082,000 after acquiring an additional 755 shares during the period. CX Institutional purchased a new position in shares of Formula Systems (1985) during the third quarter worth approximately $398,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Formula Systems (1985) in the second quarter valued at about $222,000. Finally, Raymond James Financial Inc. purchased a new stake in Formula Systems (1985) in the second quarter worth about $73,000. 34.76% of the stock is currently owned by hedge funds and other institutional investors.

Formula Systems (1985) Company Profile

Formula Systems (1985) Ltd., through its subsidiaries, provides proprietary and non-proprietary software solutions, IT professional services, software product marketing and support, computer infrastructure and integration solutions, and learning and integration worldwide. The company offers computer and telecommunication infrastructure solutions; and sells and markets computers and peripheral equipment, and cloud based solutions and services relating to databases and big data.