Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Up to $75.70

Posted by Maddie Sorensen on Aug 16th, 2024

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY – Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $75.70, but opened at $78.30. Formula Systems (1985) shares last traded at $78.30, with a volume of 110 shares.

Formula Systems (1985) Stock Up 3.4 %

The company has a 50 day moving average price of $75.24 and a two-hundred day moving average price of $75.84. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 1.30. The stock has a market cap of $1.20 billion, a PE ratio of 17.94 and a beta of 1.09.

Formula Systems (1985) (NASDAQ:FORTY – Get Free Report) last posted its quarterly earnings results on Wednesday, May 22nd. The technology company reported $1.10 earnings per share for the quarter. Formula Systems (1985) had a return on equity of 5.17% and a net margin of 2.47%. The firm had revenue of $698.40 million during the quarter.

Institutional Trading of Formula Systems (1985)

An institutional investor recently raised its position in Formula Systems (1985) stock. Altshuler Shaham Ltd increased its position in Formula Systems (1985) Ltd. (NASDAQ:FORTY – Free Report) by 52.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,711 shares of the technology company’s stock after acquiring an additional 2,303 shares during the period. Altshuler Shaham Ltd’s holdings in Formula Systems (1985) were worth $478,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 34.76% of the company’s stock.

Formula Systems (1985) Company Profile

(Get Free Report)

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.