Formula Systems (1985) (NASDAQ:FORTY) Releases Quarterly Earnings Results
by Michael Walen · The Markets DailyFormula Systems (1985) (NASDAQ:FORTY – Get Free Report) issued its quarterly earnings data on Thursday. The technology company reported $35.03 earnings per share (EPS) for the quarter, FiscalAI reports. Formula Systems (1985) had a return on equity of 3.42% and a net margin of 20.89%.The firm had revenue of $708.38 million during the quarter.
Formula Systems (1985) Stock Performance
NASDAQ:FORTY opened at $124.95 on Friday. The firm has a 50 day simple moving average of $135.63 and a 200-day simple moving average of $148.71. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.60 and a quick ratio of 1.58. The firm has a market cap of $1.92 billion, a PE ratio of 3.26 and a beta of 1.12. Formula Systems has a 1-year low of $82.52 and a 1-year high of $190.56.
Analysts Set New Price Targets
Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold”.
View Our Latest Research Report on FORTY
Institutional Trading of Formula Systems (1985)
Several hedge funds and other institutional investors have recently bought and sold shares of FORTY. Altshuler Shaham Ltd raised 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 valued at $1,182,000 after acquiring an additional 1,650 shares during the last quarter. GHP Investment Advisors Inc. boosted its holdings in shares of Formula Systems (1985) by 10.8% during the third quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock worth $1,082,000 after purchasing an additional 755 shares during the last quarter. CX Institutional acquired a new stake in shares of Formula Systems (1985) during the third quarter worth $398,000. Raymond James Financial Inc. purchased a new stake in shares of Formula Systems (1985) in the second quarter valued at $73,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in shares of Formula Systems (1985) in the second quarter valued at $222,000. 34.76% of the stock is owned by hedge funds and other institutional investors.
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.