Open Text (TSE:OTEX) Share Price Passes Above 50 Day Moving Average – Here’s What Happened

Open Text Co. (TSE:OTEX) (NASDAQ:OTEX)’s stock price crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$31.69 and traded as high as C$32.94. Open Text shares last traded at C$32.80, with a volume of 674,176 shares traded.

Wall Street Analyst Weigh In

Separately, TD lowered their price target on shares of Open Text from C$28.00 to C$27.00 and set a “hold” rating on the stock in a research report on Monday, May 11th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Open Text has an average rating of “Hold” and an average target price of C$27.50.

Open Text Price Performance

The company has a 50 day simple moving average of C$31.68 and a 200 day simple moving average of C$33.37. The company has a market capitalization of C$7.59 billion, a price-to-earnings ratio of 15.17, a price-to-earnings-growth ratio of 1.35 and a beta of 1.28. 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 released its quarterly earnings data on Thursday, May 7th. The company reported C$1.40 earnings per share for the quarter. The business 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%. As a group, research analysts predict that Open Text Co. will post 4.9036649 EPS for the current year.

Insider Activity at Open Text

In related news, insider Paul Michael Duggan sold 4,624 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of C$33.70, for a total value of C$155,828.80. Following the completion of the transaction, the insider owned 13,790 shares of the company’s stock, valued at approximately C$464,723. This represents a 25.11% decrease in their ownership of the stock. Insiders sold a total of 13,870 shares of company stock valued at $456,046 in the last 90 days. Insiders own 2.11% of the company’s stock.

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.