Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Up – Time to Buy?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares gapped up prior to trading on Monday . The stock had previously closed at $109.88, but opened at $115.25. Formula Systems (1985) shares last traded at $115.25, with a volume of 565 shares traded.

Formula Systems (1985) Trading Up 2.0%

The company has a market capitalization of $1.80 billion, a PE ratio of 2.99 and a beta of 1.20. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.68 and a quick ratio of 1.66. The company’s fifty day moving average is $109.66 and its 200-day moving average is $122.36.

Formula Systems (1985) (NASDAQ:FORTY) last announced its quarterly earnings results on Tuesday, August 25th. The technology company reported $1.47 earnings per share (EPS) for the quarter. Formula Systems (1985) had a return on equity of 4.01% and a net margin of 21.58%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Field & Main Bank acquired a new stake in Formula Systems (1985) in the second quarter valued at approximately $3,072,000. Altshuler Shaham Ltd grew its stake in Formula Systems (1985) by 10.4% during the 1st quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock worth $926,000 after buying an additional 727 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Formula Systems (1985) by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock worth $391,000 after buying an additional 86 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Formula Systems (1985) during the 2nd quarter valued at about $73,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in Formula Systems (1985) during the 1st quarter valued at about $206,000. 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.