Formula Systems (1985) (NASDAQ:FORTY) Trading Up 5.5% – Still a Buy?

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

Formula Systems (1985) Trading Down 2.6 %

The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.41. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 20.01 and a beta of 1.10. The business has a fifty day simple moving average of $91.89 and a 200-day simple moving average of $86.04.

Hedge Funds Weigh In On Formula Systems (1985)

An institutional investor recently bought a new position in Formula Systems (1985) stock. Jane Street Group LLC acquired a new position in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,772 shares of the technology company’s stock, valued at approximately $222,000. Hedge funds and other 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.