Formula Systems (1985)'s (FORTY) "Hold (C-)" Rating Reaffirmed at Weiss Ratings

Key Points

• The stock of Formula Systems (1985) (NASDAQ:FORTY) has been reaffirmed with a "Hold (C-)" rating by Weiss Ratings in their latest research report.
• Wall Street Zen downgraded the company's rating from "strong-buy" to "buy," reflecting a more cautious outlook from analysts.
• Recently, a hedge fund acquired a new position in Formula Systems, purchasing 1,740 shares valued at approximately $222,000, highlighting ongoing institutional interest in the stock.

Formula Systems (1985) (NASDAQ:FORTY - Get Free Report)'s stock had its "hold (c-)" rating restated by investment analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen lowered Formula Systems (1985) from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 21st. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of "Hold".

Formula Systems (1985) Price Performance

NASDAQ:FORTY opened at $143.92 on Wednesday. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of 28.96 and a beta of 0.90. Formula Systems has a 1 year low of $74.22 and a 1 year high of $149.09. The business has a 50 day simple moving average of $129.54 and a 200-day simple moving average of $113.45. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.21 and a quick ratio of 1.17.

Formula Systems (1985) (NASDAQ:FORTY - Get Free Report) last posted its quarterly earnings data on Tuesday, August 19th. The technology company reported $0.95 earnings per share (EPS) for the quarter. The business had revenue of $743.37 million during the quarter. Formula Systems (1985) had a return on equity of 5.58% and a net margin of 2.70%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Formula Systems (1985) stock. Elevation Point Wealth Partners LLC acquired a new position in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,740 shares of the technology company's stock, valued at approximately $222,000. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.