Formula Systems (1985) (NASDAQ:FORTY) Sees Strong Trading Volume – Still a Buy?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) saw an uptick in trading volume on Tuesday . 727 shares were traded during trading, an increase of 19% from the previous session’s volume of 613 shares.The stock last traded at $116.21 and had previously closed at $109.88.

Formula Systems (1985) Price Performance

The company has a current ratio of 1.68, a quick ratio of 1.66 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $1.78 billion, a P/E ratio of 2.96 and a beta of 1.20. The company’s fifty day simple moving average is $109.86 and its 200 day simple moving average is $123.55.

Formula Systems (1985) (NASDAQ:FORTY) last announced its earnings results on Thursday, May 28th. The technology company reported $2.25 earnings per share for the quarter. Formula Systems (1985) had a net margin of 21.58% and a return on equity of 4.01%. The firm had revenue of $738.29 million for the quarter.

Institutional Trading of Formula Systems (1985)

Several large investors have recently bought and sold shares of FORTY. Raymond James Financial Inc. bought a new position in shares of Formula Systems (1985) in the 2nd quarter worth approximately $73,000. Altshuler Shaham Ltd lifted its stake in shares of 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 purchasing an additional 1,650 shares during the period. Elevation Point Wealth Partners LLC bought a new stake in shares of Formula Systems (1985) during the first quarter valued at approximately $206,000. Dimensional Fund Advisors LP boosted its position in shares of Formula Systems (1985) by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock valued at $391,000 after purchasing an additional 86 shares in the last quarter. Finally, Field & Main Bank purchased a new stake in Formula Systems (1985) in the second quarter worth $3,072,000. 34.76% of the stock is owned by institutional investors.

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.