Paul Michael Duggan Sells 4,624 Shares of Open Text (TSE:OTEX) Stock

Open Text Co. (TSE:OTEX) (NASDAQ:OTEX) insider Paul Michael Duggan sold 4,624 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of C$33.70, for a total value of C$155,828.80. Following the transaction, the insider directly owned 13,790 shares in the company, valued at approximately C$464,723. The trade was a 25.11% decrease in their position.

Paul Michael Duggan also recently made the following trade(s):

• On Friday, May 29th, Paul Michael Duggan sold 4,623 shares of Open Text stock. The stock was sold at an average price of C$32.82, for a total value of C$151,726.86.
• On Tuesday, May 26th, Paul Michael Duggan sold 4,623 shares of Open Text stock. The stock was sold at an average price of C$32.12, for a total value of C$148,490.76.

Open Text Stock Performance

Shares of OTEX stock traded up C$2.45 during mid-day trading on Monday, hitting C$35.23. 995,213 shares of the stock were exchanged, compared to its average volume of 1,774,546. The stock’s fifty day simple moving average is C$31.30 and its two-hundred day simple moving average is C$37.33. The stock has a market capitalization of C$8.55 billion, a price-to-earnings ratio of 17.10, a P/E/G ratio of 1.35 and a beta of 0.93. Open Text Co. has a 12-month low of C$27.63 and a 12-month high of C$56.00. The company has a debt-to-equity ratio of 161.91, a quick ratio of 1.34 and a current ratio of 0.92.

Open Text (TSE:OTEX) (NASDAQ:OTEX) last issued its quarterly earnings data 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 for the quarter. Open Text had a return on equity of 12.88% and a net margin of 9.89%. On average, analysts forecast that Open Text Co. will post 4.9036649 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. TD decreased their price target on shares of Open Text from C$28.00 to C$27.00 and set a “hold” rating for the company in a research note on Monday, May 11th. TD Securities decreased their price target on shares of 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. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Open Text has a consensus rating of “Hold” and an average target price of C$27.50.

About Open Text

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.