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

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $132.48, but opened at $142.14. Formula Systems (1985) shares last traded at $142.14, with a volume of 163 shares.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Formula Systems (1985) in a report on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Formula Systems (1985) presently has a consensus rating of “Hold”.

Formula Systems (1985) Trading Up 7.3%

The stock has a market cap of $2.18 billion, a PE ratio of 3.71 and a beta of 1.17. The stock has a 50-day moving average price of $126.18 and a two-hundred day moving average price of $146.61. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.63 and a quick ratio of 1.61.

Formula Systems (1985) (NASDAQ:FORTY) last issued its quarterly earnings data on Thursday, March 26th. The technology company reported $35.03 earnings per share for the quarter. The firm had revenue of $708.38 million during the quarter. Formula Systems (1985) had a return on equity of 3.24% and a net margin of 20.89%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FORTY. Raymond James Financial Inc. purchased a new position in shares of Formula Systems (1985) during the second quarter valued at about $73,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Formula Systems (1985) during the first quarter valued at about $206,000. CX Institutional purchased a new position in shares of Formula Systems (1985) during the third quarter valued at about $398,000. GHP Investment Advisors Inc. grew its position in shares of Formula Systems (1985) by 10.8% during the third quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock valued at $1,082,000 after purchasing an additional 755 shares in the last quarter. Finally, Altshuler Shaham Ltd grew its position in shares of Formula Systems (1985) by 30.8% during the fourth quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company’s stock valued at $1,182,000 after purchasing an additional 1,650 shares in the last quarter. 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.