Formula Systems (1985) (NASDAQ:FORTY) Reaches New 1-Year High – Here’s Why

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) hit a new 52-week high during trading on Wednesday . The company traded as high as $96.54 and last traded at $96.05, with a volume of 2784 shares traded. The stock had previously closed at $92.36.

Formula Systems (1985) Stock Performance

The stock has a fifty day moving average price of $90.38 and a 200-day moving average price of $82.98. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 20.02 and a beta of 1.07. 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 posted its earnings results on Thursday, November 21st. The technology company reported $1.51 earnings per share for the quarter. Formula Systems (1985) had a return on equity of 5.68% and a net margin of 2.78%.

Institutional Investors Weigh In On Formula Systems (1985)

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

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.