Formula Systems (1985) (NASDAQ:FORTY) Shares Cross Above Two Hundred Day Moving Average of $70.33

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $70.33 and traded as high as $73.76. Formula Systems (1985) shares last traded at $73.76, with a volume of 142 shares.

Formula Systems (1985) Stock Performance

The company has a market cap of $1.13 billion, a PE ratio of 17.52 and a beta of 1.02. The stock’s 50-day simple moving average is $74.13 and its 200 day simple moving average is $70.33. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.36 and a current ratio of 1.40.

Institutional Trading of Formula Systems (1985)

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FORTY. BlackRock Inc. boosted its holdings in Formula Systems (1985) by 9.7% in the first quarter. BlackRock Inc. now owns 1,956 shares of the technology company’s stock valued at $197,000 after acquiring an additional 173 shares during the last quarter. Altshuler Shaham Ltd raised its holdings in shares of Formula Systems (1985) by 1.9% in the 1st quarter. Altshuler Shaham Ltd now owns 13,397 shares of the technology company’s stock worth $880,000 after purchasing an additional 254 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Formula Systems (1985) by 7.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,303 shares of the technology company’s stock valued at $305,000 after purchasing an additional 286 shares in the last quarter. UBS Group AG acquired a new position in shares of Formula Systems (1985) in the 3rd quarter valued at about $119,000. Finally, Jane Street Group LLC purchased a new stake in shares of Formula Systems (1985) during the 3rd quarter worth about $294,000. Hedge funds and other institutional investors own 10.24% of the company’s stock.

Formula Systems (1985) Company Profile

Formula Systems (1985) Ltd. engages in the provision of software solutions and Information Technology professional services. It operates through the following segments: Matrix IT, Sapiens, Magic Software, Michpal, ZAP Group, and Other. The company was founded on April 2, 1985 and is headquartered in Or Yehuda, Israel.