Formula Systems (1985) (NASDAQ:FORTY) Reaches New 1-Year High – Time to Buy?

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 $96.50 and last traded at $96.50, with a volume of 476 shares trading hands. The stock had previously closed at $89.30.

Formula Systems (1985) Price Performance

The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 20.02 and a beta of 1.08. The business’s 50 day moving average is $84.00 and its 200-day moving average is $78.76. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.41.

Institutional Investors Weigh In On Formula Systems (1985)

An institutional investor recently raised its position in Formula Systems (1985) stock. Altshuler Shaham Ltd lifted its position in Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 52.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,711 shares of the technology company’s stock after acquiring an additional 2,303 shares during the period. 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 (SEC). Institutional investors 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.