Formula Systems (1985) (NASDAQ:FORTY) Sees Strong Trading Volume – Here’s Why

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) saw unusually-strong trading volume on Friday . Approximately 600 shares changed hands during trading, a decline of 30% from the previous session’s volume of 860 shares.The stock last traded at $89.88 and had previously closed at $95.77.

Formula Systems (1985) Stock Down 0.8 %

The stock’s fifty day moving average is $91.28 and its two-hundred day moving average is $85.55. 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 firm has a market cap of $1.40 billion, a P/E ratio of 18.93 and a beta of 1.10.

Hedge Funds Weigh In On Formula Systems (1985)

A hedge fund recently raised its stake in Formula Systems (1985) stock. Altshuler Shaham Ltd grew its stake in Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 7.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (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 at the end of the most recent reporting period. 34.76% of the stock is owned by institutional investors.

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.