Open Text (TSE:OTEX) Shares Pass Below Fifty Day Moving Average – What’s Next?

Shares of Open Text Co. (TSE:OTEX) (NASDAQ:OTEX) passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$31.57 and traded as low as C$31.22. Open Text shares last traded at C$31.40, with a volume of 1,511,273 shares trading hands.

Wall Street Analyst Weigh In

Separately, TD cut their price target 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. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of C$27.50.

Open Text Stock Performance

The stock has a market cap of C$7.62 billion, a P/E ratio of 15.24, a P/E/G ratio of 1.35 and a beta of 1.25. The company has a fifty day moving average price of C$31.57 and a 200 day moving average price of C$36.72. The company has a debt-to-equity ratio of 161.91, a current ratio of 0.92 and a quick ratio of 1.34.

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

Insider Activity at Open Text

In other news, insider Paul Michael Duggan sold 4,624 shares of the company’s stock in a transaction on 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 transaction, the insider owned 13,790 shares of the company’s stock, valued at C$464,723. This represents a 25.11% decrease in their position. Over the last 90 days, insiders sold 13,870 shares of company stock worth $456,046. 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.