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 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 completion of the transaction, the insider owned 23,037 shares in the company, valued at C$739,948.44. The trade was a 16.71% decrease in their ownership of the stock.

Open Text Stock Performance

Shares of Open Text stock traded down C$0.13 during trading on Tuesday, reaching C$32.34. The company’s stock had a trading volume of 2,051,794 shares, compared to its average volume of 1,498,614. 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 business’s fifty day moving average price is C$31.24 and its 200-day moving average price is C$37.69. The firm has a market cap 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. Open Text Co. has a one year low of C$27.63 and a one year high of C$56.00.

Open Text (TSE:OTEX) (NASDAQ:OTEX) last posted its quarterly earnings data on Thursday, May 7th. The company reported C$1.40 EPS for the quarter. The business 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%. As a group, equities research analysts predict that Open Text Co. will post 4.9036649 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on OTEX. TD dropped their price objective on Open Text from C$28.00 to C$27.00 and set a “hold” rating on the stock in a research note on Monday, May 11th. TD Securities dropped their price objective on Open Text from C$40.00 to C$28.00 and set a “hold” rating on the stock in a research note on Monday, February 2nd. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus 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.