Open Text (TSE:OTEX) Insider Paul Michael Duggan Sells 4,624 Shares

Open Text Co. (TSE:OTEX) (NASDAQ:OTEX) insider Paul Michael Duggan sold 4,624 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of C$33.70, for a total transaction of C$155,828.80. Following the completion of the sale, the insider owned 13,790 shares in the company, valued at approximately C$464,723. This trade represents a 25.11% decrease in their ownership of the stock.

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 stock was 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 stock was sold at an average price of C$32.12, for a total value of C$148,490.76.

Open Text Price Performance

TSE OTEX opened at C$35.11 on Tuesday. The stock’s 50-day moving average price is C$31.39 and its two-hundred day moving average price is C$37.23. The company has a current ratio of 0.92, a quick ratio of 1.34 and a debt-to-equity ratio of 161.91. The company has a market cap of C$8.52 billion, a PE ratio of 17.04, a PEG ratio of 1.35 and a beta of 0.93. Open Text Co. has a 1 year low of C$27.63 and a 1 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 earnings per share (EPS) for the quarter. The firm 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%. On average, analysts predict that Open Text Co. will post 4.9036649 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on OTEX. TD Securities cut their price objective on Open Text from C$40.00 to C$28.00 and set a “hold” rating on the stock in a report on Monday, February 2nd. TD cut their price objective on Open Text from C$28.00 to C$27.00 and set a “hold” rating on the stock in a report on Monday, May 11th. Two analysts have rated the stock with a Hold rating, According to data from 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.