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

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

Open Text Price Performance

TSE:OTEX traded down C$0.65 during mid-day trading on Monday, reaching C$34.13. The stock had a trading volume of 418,440 shares, compared to its average volume of 943,441. Open Text has a 12 month low of C$32.41 and a 12 month high of C$56.00. The stock has a market capitalization 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 has a debt-to-equity ratio of 157.46, a current ratio of 0.87 and a quick ratio of 1.34. The stock has a 50-day simple moving average of C$44.29 and a two-hundred day simple moving average of C$46.67.

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

Insider Activity

In other Open Text news, insider Brian Paul Sweeney sold 8,050 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of C$49.31, for a total value of C$396,945.50. Following the transaction, the insider directly owned 12,500 shares of the company’s stock, valued at approximately C$616,375. The trade was a 39.17% decrease in their ownership of the stock. 2.11% of the stock is owned by corporate 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.