5.1% Stake of Formula Systems (1985) Ltd. (NASDAQ:FORTY) Maintained by MIGDAL INSURANCE & FINANCIAL HOLDINGS LTD.

MIGDAL INSURANCE & FINANCIAL HOLDINGS LTD.

recently stated that they own a 5.1% stake in Formula Systems (1985) Ltd. (NASDAQ:FORTY) in a Form 13G disclosure that was filed with the SEC on Tuesday, August 8th. The investor owns 743,694 shares of the stock worth $26,674,296. The disclosure is available through EDGAR at this hyperlink.

MIGDAL INSURANCE & FINANCIAL HOLDINGS LTD.

provided the following explanation of their ownership:

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Formula Systems (NASDAQ:FORTY) opened at 35.8673 on Tuesday. Formula Systems has a 1-year low of $35.75 and a 1-year high of $44.20. The company has a market capitalization of $513.01 million, a price-to-earnings ratio of 28.6709 and a beta of 0.75.

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Formula Systems (1985) Company Profile

Formula Systems (1985) Ltd. (Formula) is a global information technology (IT) solutions and services holding company. The Company, through its directly held subsidiary and affiliated companies, is engaged in providing software solutions and services, software product marketing and support, computer infrastructure and integration solutions, and learning and integration.

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