Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Up – Here’s Why

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $82.73, but opened at $87.00. Formula Systems (1985) shares last traded at $87.00, with a volume of 157 shares changing hands.

Formula Systems (1985) Stock Performance

The company has a market capitalization of $1.33 billion, a PE ratio of 18.05 and a beta of 1.09. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.41. The company has a 50 day moving average price of $80.18 and a 200 day moving average price of $77.82.

Hedge Funds Weigh In On Formula Systems (1985)

A hedge fund recently bought a new stake in Formula Systems (1985) stock. Jane Street Group LLC bought a new position in Formula Systems (1985) Ltd. (NASDAQ:FORTY) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,772 shares of the technology company’s stock, valued at approximately $222,000. 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.