Formula Systems (1985) (NASDAQ:FORTY) Sees Unusually-High Trading Volume - What's Next?

Key Points

• Formula Systems saw unusually-high trading volume on Tuesday (743 shares, up 34% from the prior session) with the stock last near $121.25 and its 50- and 200-day moving averages at $125.70 and $147.45 respectively.
• The company reported strong quarterly results—EPS $35.03, revenue $708.38 million and a 20.89% net margin—and trades at a low P/E of 3.41 with a $2.00 billion market cap.
• Market sentiment is cautious: Weiss Ratings reaffirmed a Hold rating, while institutional investors own 34.76% of the company and several funds recently increased their positions.

Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report) shares saw unusually-strong trading volume on Tuesday . Approximately 743 shares traded hands during trading, an increase of 34% from the previous session's volume of 553 shares.The stock last traded at $121.25 and had previously closed at $121.31.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a "hold (c)" rating on shares of Formula Systems (1985) in a report on Friday, March 27th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of "Hold".

Formula Systems (1985) Trading Up 9.4%

The company has a debt-to-equity ratio of 0.07, a current ratio of 1.63 and a quick ratio of 1.61. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 3.41 and a beta of 1.10. The company's fifty day moving average price is $125.70 and its 200-day moving average price is $147.45.

Formula Systems (1985) (NASDAQ:FORTY - Get Free Report) last posted its quarterly earnings data on Thursday, March 26th. The technology company reported $35.03 earnings per share (EPS) for the quarter. Formula Systems (1985) had a net margin of 20.89% and a return on equity of 3.24%. The firm had revenue of $708.38 million for the quarter.

Hedge Funds Weigh In On Formula Systems (1985)

Hedge funds and other institutional investors have recently bought and sold shares of the business. GHP Investment Advisors Inc. increased its holdings in Formula Systems (1985) by 10.8% in the 3rd quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company's stock worth $1,082,000 after buying an additional 755 shares during the period. Altshuler Shaham Ltd increased its holdings in Formula Systems (1985) by 30.8% in the 4th quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company's stock worth $1,182,000 after buying an additional 1,650 shares during the period. CX Institutional acquired a new position in Formula Systems (1985) in the 3rd quarter worth approximately $398,000. Finally, Raymond James Financial Inc. acquired a new position in Formula Systems (1985) in the 2nd quarter worth approximately $73,000. Institutional investors and hedge funds own 34.76% of the company's stock.

About Formula Systems (1985)

Formula Systems (1985) Ltd is an Israeli publicly traded holding company specializing in the software and information technology sectors. Founded in 1985 and listed on NASDAQ under the ticker FORTY, the company focuses on acquiring, investing in and developing independent software firms. Its core mission is to foster innovation in enterprise software, cybersecurity and digital transformation solutions.

The company's principal activities center on holding controlling and significant equity stakes in several market-leading software enterprises.

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