Formula Systems (1985) (NASDAQ:FORTY) Sees Strong Trading Volume – What’s Next?

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) saw unusually-strong trading volume on Thursday . Approximately 1,056 shares changed hands during trading, an increase of 30% from the previous session’s volume of 813 shares.The stock last traded at $94.34 and had previously closed at $96.00.

Formula Systems (1985) Stock Down 3.6 %

The stock has a market capitalization of $1.42 billion, a P/E ratio of 19.21 and a beta of 1.10. The firm’s fifty day moving average is $93.15 and its 200-day moving average is $86.85. The company has a current ratio of 1.41, a quick ratio of 1.38 and a debt-to-equity ratio of 0.22.

Formula Systems (1985) (NASDAQ:FORTY) last announced its quarterly earnings results on Thursday, March 20th. The technology company reported $1.28 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%. The firm had revenue of $691.50 million during the quarter.

Hedge Funds Weigh In On Formula Systems (1985)

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

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.