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 traded.

Formula Systems (1985) Stock Performance

The stock has a market capitalization of $1.31 billion, a P/E ratio of 18.11 and a beta of 1.09. The stock has a 50 day moving average of $80.45 and a 200 day moving average of $77.84. 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 Inflows and Outflows

An institutional investor recently raised its position in Formula Systems (1985) stock. Altshuler Shaham Ltd increased its position in Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 52.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,711 shares of the technology company’s stock after buying an additional 2,303 shares during the quarter. Altshuler Shaham Ltd’s holdings in Formula Systems (1985) were worth $478,000 at the end of the most recent reporting period. 34.76% of the stock is owned by hedge funds and other institutional investors.

Formula Systems (1985) Company Profile

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.