Formula Systems (1985) (NASDAQ:FORTY) Sees Strong Trading Volume – Should You Buy?

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) saw unusually-high trading volume on Thursday . Approximately 928 shares were traded during mid-day trading, an increase of 68% from the previous session’s volume of 551 shares.The stock last traded at $141.44 and had previously closed at $138.89.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Formula Systems (1985) in a report on Friday, March 27th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Formula Systems (1985) currently has an average rating of “Hold”.

Formula Systems (1985) Price Performance

The business has a 50 day simple moving average of $130.47 and a 200 day simple moving average of $146.62. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.63 and a quick ratio of 1.61. The stock has a market cap of $2.17 billion, a PE ratio of 3.69 and a beta of 1.17.

Hedge Funds Weigh In On Formula Systems (1985)

Large investors have recently made changes to their positions in the business. Raymond James Financial Inc. acquired a new position in shares of Formula Systems (1985) during the 2nd quarter worth about $73,000. Elevation Point Wealth Partners LLC acquired a new position in Formula Systems (1985) in the 1st quarter valued at approximately $206,000. Dimensional Fund Advisors LP raised its holdings in Formula Systems (1985) by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock valued at $391,000 after acquiring an additional 86 shares in the last quarter. 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 valued at $1,082,000 after acquiring an additional 755 shares in the last quarter. Finally, Altshuler Shaham Ltd raised its holdings in Formula Systems (1985) by 30.8% in the 4th quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company’s stock valued at $1,182,000 after acquiring an additional 1,650 shares in the last quarter. Institutional investors and hedge funds own 34.76% of the company’s stock.

Formula Systems (1985) Company Profile

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.