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

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

Formula Systems (1985) Price Performance

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 business has a 50-day simple moving average of $89.95 and a 200 day simple moving average of $82.80. The firm has a market cap of $1.47 billion, a P/E ratio of 19.93 and a beta of 1.07.

Formula Systems (1985) (NASDAQ:FORTY) last announced its earnings results on Thursday, November 21st. The technology company reported $1.51 EPS for the quarter. Formula Systems (1985) had a return on equity of 5.68% and a net margin of 2.78%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Formula Systems (1985) stock. Jane Street Group LLC bought a new position in Formula Systems (1985) Ltd. (NASDAQ:FORTY) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 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.