Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Up – Here’s Why

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares gapped up before the market opened on Tuesday . The stock had previously closed at $82.73, but opened at $87.00. Formula Systems (1985) shares last traded at $87.00, with a volume of 157 shares trading hands.

Formula Systems (1985) Price Performance

The business has a fifty day moving average price of $80.18 and a 200 day moving average price of $77.82. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 18.05 and a beta of 1.09. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.41 and a quick ratio of 1.38.

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 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. The firm acquired 2,772 shares of the technology company’s stock, valued at approximately $222,000. 34.76% of the stock is currently owned by hedge funds and other institutional investors.

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.