Formula Systems (1985) (NASDAQ:FORTY) Reaches New 1-Year High at $71.93

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) hit a new 52-week high on Tuesday . The company traded as high as $71.93 and last traded at $68.50, with a volume of 13 shares trading hands. The stock had previously closed at $68.50.

Separately, ValuEngine downgraded Formula Systems (1985) from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd.

The company has a debt-to-equity ratio of 0.43, a current ratio of 1.38 and a quick ratio of 1.36. The firm has a market cap of $1.03 billion, a PE ratio of 30.09 and a beta of 0.88. The business has a fifty day moving average price of $67.95 and a two-hundred day moving average price of $59.31.

A hedge fund recently bought a new stake in Formula Systems (1985) stock. Altshuler Shaham Ltd acquired a new stake in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,000 shares of the technology company’s stock, valued at approximately $52,000. 0.11% of the stock is owned by institutional investors and hedge funds.

Formula Systems (1985) Company Profile (NASDAQ:FORTY)

Formula Systems (1985) Ltd., through its subsidiaries, provides software, proprietary and non-proprietary software, and software product marketing and support services. The company offers computer and telecommunication infrastructure solutions; computer solutions to computer and communications infrastructures; cloud computing solutions; database and big data services; customer relations management, computer systems management infrastructures, Web world content management, database and data warehouse mining, application integration, database and systems, data management, and software development tools; and professional training courses and advanced professional studies.

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