Paul Michael Duggan Sells 4,623 Shares of Open Text (TSE:OTEX) Stock

Open Text Co. (TSE:OTEX) (NASDAQ:OTEX) insider Paul Michael Duggan sold 4,623 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of C$32.82, for a total transaction of C$151,726.86. Following the sale, the insider directly owned 18,414 shares of the company’s stock, valued at approximately C$604,347.48. This represents a 20.07% decrease in their position.

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

• On Monday, June 1st, Paul Michael Duggan sold 4,624 shares of Open Text stock. The shares were sold at an average price of C$33.70, for a total transaction of C$155,828.80.
• 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 Price Performance

Shares of TSE:OTEX opened at C$34.29 on Wednesday. The company has a quick ratio of 1.34, a current ratio of 0.92 and a debt-to-equity ratio of 161.91. Open Text Co. has a fifty-two week low of C$27.63 and a fifty-two week high of C$56.00. The firm has a 50-day simple moving average of C$31.39 and a 200 day simple moving average of C$37.23. The company has a market cap of C$8.32 billion, a PE ratio of 16.65, a P/E/G ratio of 1.35 and a beta of 0.93.

Open Text (TSE:OTEX) (NASDAQ:OTEX) last announced its quarterly earnings data on Thursday, May 7th. The company reported C$1.40 earnings per share for the quarter. Open Text had a net margin of 9.89% and a return on equity of 12.88%. The business had revenue of C$1.78 billion during the quarter. On average, sell-side analysts anticipate that Open Text Co. will post 4.9036649 EPS for the current year.

Analysts Set New Price Targets

Separately, TD lowered 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 research report on Monday, May 11th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently 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.