Formula Systems (1985) (NASDAQ:FORTY) Sets New 52-Week High – Here’s Why

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $89.30 and last traded at $89.30, with a volume of 7 shares changing hands. The stock had previously closed at $89.30.

Formula Systems (1985) Stock Performance

The stock has a 50-day simple moving average of $82.07 and a 200 day simple moving average of $78.13. The company has a current ratio of 1.41, a quick ratio of 1.38 and a debt-to-equity ratio of 0.22. The company has a market cap of $1.37 billion, a price-to-earnings ratio of 18.53 and a beta of 1.08.

Institutional Investors Weigh In On Formula Systems (1985)

An institutional investor recently raised its position in Formula Systems (1985) stock. Altshuler Shaham Ltd raised its holdings in Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 52.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,711 shares of the technology company’s stock after purchasing an additional 2,303 shares during the period. Altshuler Shaham Ltd’s holdings in Formula Systems (1985) were worth $478,000 at the end of the most recent quarter. Hedge funds and other institutional investors 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.