Formula Systems (1985) (NASDAQ:FORTY) Hits New 52-Week High – Still a Buy?

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $96.50 and last traded at $96.50, with a volume of 476 shares. The stock had previously closed at $89.30.

Formula Systems (1985) Trading Up 8.1 %

The company has a current ratio of 1.41, a quick ratio of 1.38 and a debt-to-equity ratio of 0.22. The company has a 50 day moving average of $83.24 and a 200 day moving average of $78.51. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 20.03 and a beta of 1.08.

Institutional Trading of Formula Systems (1985)

A hedge fund recently raised its stake in Formula Systems (1985) stock. Altshuler Shaham Ltd grew its position in Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 52.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 6,711 shares of the technology company’s stock after buying an additional 2,303 shares during the period. Altshuler Shaham Ltd’s holdings in Formula Systems (1985) were worth $478,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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.