Formula Systems (1985) (NASDAQ:FORTY) Shares Cross Above 200 Day Moving Average – Here’s Why

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $79.10 and traded as high as $96.47. Formula Systems (1985) shares last traded at $95.25, with a volume of 541 shares.

Formula Systems (1985) Trading Up 0.5 %

The firm has a market capitalization of $1.46 billion, a P/E ratio of 19.76 and a beta of 1.08. The stock has a 50-day simple moving average of $85.04 and a two-hundred day simple moving average of $79.10. The company has a current ratio of 1.41, a quick ratio of 1.38 and a debt-to-equity ratio of 0.22.

Institutional Investors Weigh In On Formula Systems (1985)

An institutional investor recently raised its position in Formula Systems (1985) stock. Altshuler Shaham Ltd increased its stake in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 52.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,711 shares of the technology company’s stock after purchasing an additional 2,303 shares during the quarter. Altshuler Shaham Ltd’s holdings in Formula Systems (1985) were worth $478,000 as of its most recent SEC filing. Institutional investors and hedge funds own 34.76% of the company’s stock.

Formula Systems (1985) Company Profile

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.