TD Securities Cuts Open Text (TSE:OTEX) Price Target to C$28.00

Open Text (TSE:OTEX) (NASDAQ:OTEX) had its price objective decreased by research analysts at TD Securities from C$40.00 to C$28.00 in a note issued to investors on Monday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. TD Securities’ target price suggests a potential downside of 17.96% from the stock’s current price.

Open Text Trading Down 1.9%

Shares of TSE:OTEX traded down C$0.65 during mid-day trading on Monday, hitting C$34.13. The stock had a trading volume of 418,440 shares, compared to its average volume of 943,441. The company has a market cap of C$8.60 billion, a PE ratio of 17.87, a P/E/G ratio of 1.35 and a beta of 0.91. The company’s 50 day moving average is C$44.29 and its 200-day moving average is C$46.67. The company has a debt-to-equity ratio of 157.46, a quick ratio of 1.34 and a current ratio of 0.87. Open Text has a 12-month low of C$32.41 and a 12-month high of C$56.00.

Open Text (TSE:OTEX) (NASDAQ:OTEX) last released its quarterly earnings data on Wednesday, November 5th. The company reported C$1.05 earnings per share for the quarter. Open Text had a net margin of 12.21% and a return on equity of 15.83%. The firm had revenue of C$1.79 billion for the quarter. On average, sell-side analysts predict that Open Text will post 4.9036649 EPS for the current year.

Insider Transactions at Open Text

In other news, insider Brian Paul Sweeney sold 8,050 shares of the company’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of C$49.31, for a total transaction of C$396,945.50. Following the completion of the sale, the insider owned 12,500 shares in the company, valued at approximately C$616,375. This represents a 39.17% decrease in their position. 2.11% of the stock is owned by company insiders.

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.