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 firm’s stock in a transaction on Tuesday, May 26th. The shares were 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 of the company’s stock, valued at approximately C$739,948.44. This represents a 16.71% decrease in their position.

Open Text Price Performance

Open Text stock opened at C$31.84 on Thursday. The firm has a market capitalization of C$7.73 billion, a PE ratio of 15.46, a P/E/G ratio of 1.35 and a beta of 0.93. Open Text Co. has a 52 week low of C$27.63 and a 52 week high of C$56.00. The firm’s 50-day simple moving average is C$31.27 and its 200 day simple moving average is C$37.56. 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 (TSE:OTEX) (NASDAQ:OTEX) last posted its earnings results on Thursday, May 7th. The company reported C$1.40 earnings per share for the quarter. The firm 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%. On average, equities research analysts predict that Open Text Co. will post 4.9036649 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. TD Securities cut their price objective on Open Text from C$40.00 to C$28.00 and set a “hold” rating for the company in a research report on Monday, February 2nd. TD dropped their price target on 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 research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Open Text 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.