Open Text (TSE:OTEX) Insider Sells C$148,490.76 in Stock

Open Text Co. (TSE:OTEX) (NASDAQ:OTEX) insider Paul Michael Duggan sold 4,623 shares of Open Text stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of C$32.12, for a total transaction of C$148,490.76. Following the transaction, the insider directly owned 23,037 shares in the company, valued at approximately C$739,948.44. This represents a 16.71% decrease in their ownership of the stock.

Open Text Trading Up 0.8%

Shares of TSE OTEX opened at C$32.10 on Friday. The company’s fifty day moving average is C$31.28 and its 200-day moving average is C$37.44. The stock has a market cap of C$7.79 billion, a price-to-earnings ratio of 15.58, a P/E/G ratio of 1.35 and a beta of 0.93. Open Text Co. has a twelve month low of C$27.63 and a twelve month high of C$56.00. The company has a quick ratio of 1.34, a current ratio of 0.92 and a debt-to-equity ratio of 161.91.

Open Text (TSE:OTEX) (NASDAQ:OTEX) last announced its quarterly earnings results on Thursday, May 7th. The company reported C$1.40 earnings per share for the quarter. The company had revenue of C$1.78 billion for the quarter. Open Text had a net margin of 9.89% and a return on equity of 12.88%. Equities research analysts predict that Open Text Co. will post 4.9036649 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on OTEX. TD Securities cut their price objective on shares of Open Text from C$40.00 to C$28.00 and set a “hold” rating on the stock in a research report on Monday, February 2nd. TD cut their price objective on shares of 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 research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Open Text currently has an average rating of “Hold” and a consensus target price of C$27.50.

Open Text Company Profile

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.