Formula Systems (1985) (NASDAQ:FORTY) Trading Up 5.5% – Here’s What Happened

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s stock price shot up 5.5% during trading on Wednesday . The stock traded as high as $96.48 and last traded at $96.23. 568 shares changed hands during mid-day trading, a decline of 32% from the average session volume of 832 shares. The stock had previously closed at $91.25.

Formula Systems (1985) Price Performance

The business’s 50 day simple moving average is $91.49 and its 200-day simple moving average is $85.90. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 19.84 and a beta of 1.10. The company has a quick ratio of 1.38, a current ratio of 1.41 and a debt-to-equity ratio of 0.22.

Institutional Trading of Formula Systems (1985)

A hedge fund recently bought a new stake in Formula Systems (1985) stock. Jane Street Group LLC purchased a new position in Formula Systems (1985) Ltd. (NASDAQ:FORTY) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,772 shares of the technology company’s stock, valued at approximately $222,000. Institutional investors own 34.76% of the company’s stock.

Formula Systems (1985) Company Profile

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.