Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Up - What's Next?

Key Points

• Shares jumped ~13.2% premarket, opening at $124.83 versus the prior close of $110.28, though trading was light (about 375 shares reported).
• Analysts maintain a consensus "Hold" rating (Weiss Ratings reissued Hold); the company shows a low P/E of 3.26, market cap of $1.91B, and reported strong quarterly EPS of $35.03 on $708.38M revenue with a net margin of ~20.9%.
• Institutional investors own roughly 34.76% of the stock, with several funds (Raymond James, CX Institutional, GHP, Altshuler Shaham) recently initiating or increasing positions.

Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report)'s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $110.28, but opened at $124.83. Formula Systems (1985) shares last traded at $124.83, with a volume of 375 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a "hold (c)" rating on shares of Formula Systems (1985) in a report on Friday. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Formula Systems (1985) has a consensus rating of "Hold".

Formula Systems (1985) Trading Up 13.2%

The firm has a market capitalization of $1.91 billion, a P/E ratio of 3.26 and a beta of 1.12. The business's 50 day moving average is $133.30 and its two-hundred day moving average is $148.39. The company has a quick ratio of 1.61, a current ratio of 1.63 and a debt-to-equity ratio of 0.07.

Formula Systems (1985) (NASDAQ:FORTY - Get Free Report) last announced its earnings results 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 during the quarter.

Institutional Investors Weigh In On Formula Systems (1985)

A number of institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in Formula Systems (1985) during the 2nd quarter valued at $73,000. CX Institutional bought a new stake in shares of Formula Systems (1985) in the 3rd quarter worth $398,000. GHP Investment Advisors Inc. lifted its holdings in shares of Formula Systems (1985) by 10.8% in the third quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company's stock valued at $1,082,000 after buying an additional 755 shares during the period. Finally, Altshuler Shaham Ltd boosted its stake in Formula Systems (1985) by 30.8% during the fourth quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company's stock valued at $1,182,000 after buying an additional 1,650 shares in the last quarter. 34.76% of the stock is currently owned by institutional investors and hedge funds.

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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