Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Up – What’s Next?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares gapped up prior to trading on Tuesday . The stock had previously closed at $158.50, but opened at $169.03. Formula Systems (1985) shares last traded at $160.5250, with a volume of 816 shares.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Formula Systems (1985) in a research report on Tuesday, November 11th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Formula Systems (1985) currently has a consensus rating of “Hold”.

Formula Systems (1985) Trading Up 1.3%

The firm has a market cap of $2.46 billion, a P/E ratio of 32.30 and a beta of 0.94. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.21 and a quick ratio of 1.17. The stock has a 50 day moving average of $144.04 and a 200 day moving average of $126.00.

Formula Systems (1985) (NASDAQ:FORTY) last posted its quarterly earnings results on Tuesday, August 19th. The technology company reported $0.95 earnings per share (EPS) for the quarter. Formula Systems (1985) had a return on equity of 5.58% and a net margin of 2.70%.The business had revenue of $743.37 million for the quarter.

Hedge Funds Weigh In On Formula Systems (1985)

Several hedge funds and other institutional investors have recently modified their holdings of FORTY. Elevation Point Wealth Partners LLC purchased a new stake in shares of Formula Systems (1985) during the second quarter worth about $222,000. Raymond James Financial Inc. purchased a new stake in Formula Systems (1985) in the 2nd quarter worth approximately $73,000. CX Institutional bought a new stake in shares of Formula Systems (1985) in the 3rd quarter worth approximately $398,000. Finally, GHP Investment Advisors Inc. raised its holdings in Formula Systems (1985) by 10.8% in the 3rd quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock worth $1,082,000 after purchasing an additional 755 shares in the last quarter. 34.76% of the stock is owned by institutional investors.

About Formula Systems (1985)

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.