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

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $100.00 and last traded at $96.50, with a volume of 1826 shares. The stock had previously closed at $96.20.

Formula Systems (1985) Trading Down 1.4 %

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 business’s 50 day moving average price is $91.21 and its 200-day moving average price is $83.96. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 20.43 and a beta of 1.07.

Formula Systems (1985) (NASDAQ:FORTY) last issued its earnings results on Thursday, November 21st. The technology company reported $1.51 earnings per share for the quarter. Formula Systems (1985) had a net margin of 2.78% and a return on equity of 5.68%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Formula Systems (1985) stock. Altshuler Shaham Ltd lifted its position in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 7.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 6,385 shares of the technology company’s stock after buying an additional 450 shares during the period. Altshuler Shaham Ltd’s holdings in Formula Systems (1985) were worth $536,000 as of its most recent SEC filing. Hedge funds and other 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.