FORTY
Formula SystemsFORTY
FORTY
About: Formula Systems (1985) Ltd is a holding company that, through its subsidiaries, provides information technology services. The company organizes itself into operating segments: The Matrix segment, which generates the majority of revenue, provides software development and existing software expansion services. The Sapiens segment provides software development services for the insurance industry. The Magic Software segment provides vendor management systems and workforce management services, which include accounting and finance, human resources; Michpal; ZAP Group and Others. The majority of the company's revenue comes from Israel.
Employees: 21,900
0
Funds holding %
of 6,809 funds
–
Analysts bullish %
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
13% more capital invested
Capital invested by funds: $61.1M [Q2] → $68.9M (+$7.76M) [Q3]
0% more funds holding
Funds holding: 12 [Q2] → 12 (+0) [Q3]
0% more first-time investments, than exits
New positions opened: 3 | Existing positions closed: 3
0.01% less ownership
Funds ownership: 5.6% [Q2] → 5.59% (-0.01%) [Q3]
75% less repeat investments, than reductions
Existing positions increased: 1 | Existing positions reduced: 4
Research analyst outlook
We haven’t received any recent analyst ratings for FORTY.
Financial journalist opinion
Neutral
GlobeNewsWire
1 month ago
Formula Systems Reports Financial Results for the Third Quarter and First Nine Months Period Ended September 30, 2024
Revenues for the Third Quarter Increased by 6.9% Year Over Year to a Record Breaking $700 million. Net Income Attributable to Formula Systems Shareholders for the Third Quarter Increased by 51.4% Year Over Year to $23.6 million. Revenues for the Third Quarter Increased by 6.9% Year Over Year to a Record Breaking $700 million. Net Income Attributable to Formula Systems Shareholders for the Third Quarter Increased by 51.4% Year Over Year to $23.6 million.
Neutral
GlobeNewsWire
4 months ago
Formula Systems Reports Second Quarter and First Half 2024 Financial Results
Operating Income for the Second Quarter Increased by 8.4% Year Over Year to a Second Quarter Record Breaking $65 million. Net Income Attributable to Formula Systems Shareholders for the Second Quarter Increased by 10.7% Year Over Year to a Second Quarter Record-Braking $18.8 million. Operating Income for the Second Quarter Increased by 8.4% Year Over Year to a Second Quarter Record Breaking $65 million. Net Income Attributable to Formula Systems Shareholders for the Second Quarter Increased by 10.7% Year Over Year to a Second Quarter Record-Braking $18.8 million.
Neutral
GlobeNewsWire
4 months ago
Publication of Draft Agreement with Trustee for Potential New Israeli Debenture Series
OR YEHUDA, Israel, Aug. 05, 2024 (GLOBE NEWSWIRE) -- Formula Systems (1985) Ltd. (“Formula”) published with the Tel Aviv Stock Exchange (the “TASE”) and the Israel Securities Authority (the “ISA”) a draft agreement with a trustee for a new series of secured, non-convertible debentures—Series D Debentures— that may potentially be issued by Formula in Israel. The Series D Debentures would be secured by a first lien on certain shares of certain publicly-traded subsidiaries held by Formula—specifically, Matrix IT Ltd., Sapiens International Corporation N.V., and Magic Software Enterprises Ltd.— with the number of pledged shares to be determined based on a loan-to-value ratio that will not exceed 60% of the value of the pledged shares.
Neutral
GlobeNewsWire
7 months ago
Formula Systems Reports First Quarter 2024 Financial Results
Revenues for the First Quarter Increased by 4.2% Year Over Year to $698.4 Million. Net Income for the First Quarter Increased by 9.4% Year Over year to $17.2 Million. Revenues for the First Quarter Increased by 4.2% Year Over Year to $698.4 Million. Net Income for the First Quarter Increased by 9.4% Year Over year to $17.2 Million.
Neutral
GlobeNewsWire
7 months ago
Formula Systems Announces Filing of 2023 Annual Report
Or Yehuda, Israel, May 15, 2024 (GLOBE NEWSWIRE) -- Formula Systems (1985) Ltd. (NASDAQ and TASE: FORTY) (“Formula” or the “Company”), a global information technology group engaged, through its subsidiaries and affiliates, in providing software consulting services and computer-based business solutions and developing proprietary software products, announced today that it has filed its annual report containing audited consolidated financial statements for the year ended December 31, 2023 with the U.S. Securities and Exchange Commission. The annual report is available on the Company's website (www.formulasystems.com). Shareholders may receive a hard copy of the annual report free of charge upon request.
Neutral
GlobeNewsWire
9 months ago
Formula Systems Reports Fourth Quarter and Full Year 2023 Financial Results
Revenues for the full year increased by 1.9% (or 8.4% on a constant currency basis) Year over year to a record-breaking result of $2.6 billion with Net Income for the year reaching $64 million Revenues for the full year increased by 1.9% (or 8.4% on a constant currency basis) Year over year to a record-breaking result of $2.6 billion with Net Income for the year reaching $64 million
Neutral
GlobeNewsWire
1 year ago
Formula Systems Reports Third Quarter and Nine Months 2023 Financial Results:
Revenues for the Third Quarter Increased by 4.3% (or 10.8% on a constant currency basis) Year Over Year to a third-quarter record-breaking $654.8 Million with Net Income for the Third Quarter reaching $15.6 million.
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