Insider Selling: Open Text (TSE:OTEX) Insider Sells C$155,828.80 in Stock

Open Text Co. (TSE:OTEX) (NASDAQ:OTEX) insider Paul Michael Duggan sold 4,624 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of C$33.70, for a total transaction of C$155,828.80. Following the transaction, the insider directly owned 13,790 shares of the company’s stock, valued at approximately C$464,723. This trade represents 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 shares were sold at an average price of C$32.82, for a total transaction of C$151,726.86.
• On Tuesday, May 26th, Paul Michael Duggan sold 4,623 shares of Open Text stock. The shares were sold at an average price of C$32.12, for a total transaction of C$148,490.76.

Open Text Stock Performance

Shares of OTEX opened at C$32.87 on Thursday. Open Text Co. has a 1 year low of C$27.63 and a 1 year high of C$56.00. The company has a market cap of C$7.98 billion, a price-to-earnings ratio of 15.96, 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 quick ratio of 1.34 and a current ratio of 0.92. The firm has a fifty day moving average of C$31.48 and a 200-day moving average of C$37.02.

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 (EPS) for the quarter. The company had revenue of C$1.78 billion during the quarter. Open Text had a net margin of 9.89% and a return on equity of 12.88%. As a group, equities analysts anticipate that Open Text Co. will post 4.9036649 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, TD reduced their price objective on shares of Open Text from C$28.00 to C$27.00 and set a “hold” rating for the company in a report on Monday, May 11th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently 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.