Key Points
- Open Text insider Paul Michael Duggan sold 4,623 shares on May 26 at an average price of C$32.12, totaling about C$148,491. After the sale, he still held 23,037 shares, a 16.71% reduction in his position.
- Open Text’s stock traded at C$32.34 with a market cap of C$7.85 billion. The company’s shares remain below their 200-day moving average of C$37.69 and are far off the 1-year high of C$56.00.
- Analysts are cautious on OTEX, with a consensus rating of “Hold” and an average price target of C$27.50. TD Securities recently lowered its target to C$27.00 and maintained a hold rating.
Open Text Co. (TSE:OTEX - Get Free Report) (NASDAQ:OTEX) insider Paul Michael Duggan sold 4,623 shares of the business's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of C$32.12, for a total value of C$148,490.76. Following the sale, the insider owned 23,037 shares in the company, valued at C$739,948.44. The trade was a 16.71% decrease in their position.
Open Text Stock Performance
Shares of OTEX stock opened at C$32.34 on Wednesday. The firm has a market capitalization of C$7.85 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 1.35 and a beta of 0.93. The company has a debt-to-equity ratio of 161.91, a current ratio of 0.92 and a quick ratio of 1.34. The business has a fifty day moving average of C$31.24 and a 200 day moving average of C$37.69. Open Text Co. has a 1 year low of C$27.63 and a 1 year high of C$56.00.
Open Text (TSE:OTEX - Get Free Report) (NASDAQ:OTEX) last issued its earnings results on Thursday, May 7th. The company reported C$1.40 earnings per share (EPS) for the quarter. The company had revenue of C$1.78 billion during the quarter. Open Text had a return on equity of 12.88% and a net margin of 9.89%. As a group, research analysts expect that Open Text Co. will post 4.9036649 earnings per share for the current year.
Analysts Set New Price Targets
A number of brokerages recently issued reports on OTEX. TD Securities reduced their target price on Open Text from C$40.00 to C$28.00 and set a "hold" rating for the company in a research note on Monday, February 2nd. TD cut their price target on Open Text from C$28.00 to C$27.00 and set a "hold" rating on the stock in a research report on Monday, May 11th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of C$27.50.
View Our Latest Research Report on Open Text
About Open Text
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OpenText¿ is a leading Cloud and AI company that provides organizations around the world with a comprehensive suite of Business AI, Business Clouds, and Business Technology. We help organizations grow, innovate, become more efficient and effective, and do so in a trusted and secure way - through Information Management.
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