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

Formula Systems (1985) Ltd. (NASDAQ:FORTY) gapped up before the market opened on Thursday . The stock had previously closed at $96.48, but opened at $98.99. Formula Systems (1985) shares last traded at $97.49, with a volume of 227 shares traded.

Formula Systems (1985) Price Performance

The business’s fifty day moving average is $91.89 and its 200-day moving average is $86.04. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.41 and a quick ratio of 1.38. The firm has a market cap of $1.49 billion, a PE ratio of 20.15 and a beta of 1.10.

Hedge Funds 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 7.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,385 shares of the technology company’s stock after purchasing an additional 450 shares during the quarter. Altshuler Shaham Ltd’s holdings in Formula Systems (1985) were worth $536,000 at the end of the most recent reporting period. 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.