Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Up - Here's Why

Key Points

• Formula Systems shares opened 4.9% higher, rising from a previous close of $109.88 to $115.25 in Monday trading, though volume was limited to 565 shares.
• The company reported quarterly earnings of $2.25 per share on $738.29 million in revenue, with a 21.58% net margin and a 4.01% return on equity.
• Institutional investors and hedge funds own 34.76% of the company, with several firms recently initiating or increasing positions in Formula Systems.

Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $109.88, but opened at $115.25. Formula Systems (1985) shares last traded at $115.25, with a volume of 565 shares.

Formula Systems (1985) Price Performance

The company has a quick ratio of 1.66, a current ratio of 1.68 and a debt-to-equity ratio of 0.12. The company's fifty day moving average price is $109.76 and its 200 day moving average price is $122.89. The company has a market capitalization of $1.77 billion, a P/E ratio of 2.93 and a beta of 1.20.

Formula Systems (1985) (NASDAQ:FORTY - Get Free Report) last posted its quarterly earnings data on Thursday, May 28th. The technology company reported $2.25 earnings per share for the quarter. The business had revenue of $738.29 million during the quarter. Formula Systems (1985) had a net margin of 21.58% and a return on equity of 4.01%.

Hedge Funds Weigh In On Formula Systems (1985)

A number of hedge funds have recently modified their holdings of the business. Field & Main Bank bought a new position in Formula Systems (1985) during the second quarter worth $3,072,000. Altshuler Shaham Ltd grew its holdings in Formula Systems (1985) by 10.4% during the 1st quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company's stock worth $926,000 after acquiring an additional 727 shares during the period. Dimensional Fund Advisors LP grew its holdings in Formula Systems (1985) by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company's stock worth $391,000 after acquiring an additional 86 shares during the period. Raymond James Financial Inc. bought a new position in shares of Formula Systems (1985) in the 2nd quarter worth about $73,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in shares of Formula Systems (1985) in the 1st quarter valued at about $206,000. Institutional investors and hedge funds own 34.76% of the company's stock.

Formula Systems (1985) Company Profile

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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