Formula Systems (1985) (NASDAQ:FORTY) Hits New 52-Week High – Here’s What Happened

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $100.00 and last traded at $96.50, with a volume of 1826 shares traded. The stock had previously closed at $96.20.

Formula Systems (1985) Stock Performance

The company has a 50 day moving average price of $91.10 and a 200-day moving average price of $83.67. The company has a quick ratio of 1.38, a current ratio of 1.41 and a debt-to-equity ratio of 0.22. The company has a market cap of $1.53 billion, a P/E ratio of 20.74 and a beta of 1.07.

Formula Systems (1985) (NASDAQ:FORTY) last announced its earnings results on Thursday, November 21st. The technology company reported $1.51 earnings per share (EPS) for the quarter. Formula Systems (1985) had a net margin of 2.78% and a return on equity of 5.68%.

Institutional Investors Weigh In On Formula Systems (1985)

A hedge fund recently raised its stake in Formula Systems (1985) stock. Altshuler Shaham Ltd increased its holdings in Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 7.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,385 shares of the technology company’s stock after purchasing an additional 450 shares during the quarter. Altshuler Shaham Ltd’s holdings in Formula Systems (1985) were worth $536,000 at the end of the most recent quarter. 34.76% of the stock is owned by hedge funds and other 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.