Formula Systems (1985) (NASDAQ:FORTY) Rating Lowered to Buy at Wall Street Zen

Formula Systems (1985) (NASDAQ:FORTY - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued on Saturday.

Formula Systems (1985) Stock Up 3.3%

Shares of NASDAQ FORTY traded up $3.71 during trading on Friday, reaching $115.01. The company had a trading volume of 627 shares, compared to its average volume of 920. Formula Systems has a 12-month low of $69.28 and a 12-month high of $115.01. The company has a quick ratio of 1.23, a current ratio of 1.26 and a debt-to-equity ratio of 0.16. The business's 50-day moving average is $99.38 and its 200 day moving average is $94.28. The stock has a market cap of $1.76 billion, a PE ratio of 22.03 and a beta of 0.93.

Formula Systems (1985) (NASDAQ:FORTY - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The technology company reported $1.23 earnings per share (EPS) for the quarter. Formula Systems (1985) had a return on equity of 6.00% and a net margin of 2.91%. The business had revenue of $754.68 million for the quarter.

Institutional Investors Weigh In On Formula Systems (1985)

A hedge fund recently raised its stake in Formula Systems (1985) stock. Altshuler Shaham Ltd boosted its holdings in Formula Systems (1985) Ltd. (NASDAQ:FORTY - Free Report) by 7.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor 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. Institutional investors and hedge funds own 34.76% of the company's stock.

Formula Systems (1985) Company Profile

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.