Formula Systems (1985) (NASDAQ:FORTY) Reaches New 52-Week High – Should You Buy?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $97.52 and last traded at $95.73, with a volume of 200 shares trading hands. The stock had previously closed at $96.00.

Formula Systems (1985) Price Performance

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 market capitalization of $1.47 billion, a PE ratio of 19.95 and a beta of 1.07. The company’s 50 day moving average price is $90.92 and its 200-day moving average price is $83.25.

Formula Systems (1985) (NASDAQ:FORTY) last announced its quarterly 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%.

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) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,772 shares of the technology company’s stock, valued at approximately $222,000. Institutional investors and hedge funds own 34.76% of the company’s stock.

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.