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

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $82.99, but opened at $87.24. Formula Systems (1985) shares last traded at $87.24, with a volume of 162 shares trading hands.

Formula Systems (1985) Trading Up 4.1 %

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 firm has a market cap of $1.32 billion, a PE ratio of 17.93 and a beta of 1.07. The company’s 50-day moving average is $88.08 and its 200 day moving average is $81.37.

Institutional Investors Weigh In On Formula Systems (1985)

A hedge fund recently raised its stake in Formula Systems (1985) stock. Altshuler Shaham Ltd grew its holdings in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 52.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,711 shares of the technology company’s stock after purchasing an additional 2,303 shares during the quarter. Altshuler Shaham Ltd’s holdings in Formula Systems (1985) were worth $478,000 as of its most recent filing with the Securities and Exchange Commission. 34.76% of the stock is 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.