Open Text (TSE:OTEX) Shares Pass Above Fifty Day Moving Average – Here’s What Happened

Open Text Co. (TSE:OTEX) (NASDAQ:OTEX) shares passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$31.66 and traded as high as C$33.61. Open Text shares last traded at C$32.54, with a volume of 1,120,816 shares traded.

Analyst Upgrades and Downgrades

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 research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Open Text presently has a consensus rating of “Hold” and a consensus price target of C$27.50.

Open Text Stock Down 0.0%

The company has a market cap of C$7.90 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 1.35 and a beta of 1.28. The company has a fifty day moving average of C$31.66 and a two-hundred day moving average of C$34.19. The company has a debt-to-equity ratio of 161.91, a quick ratio of 1.34 and a current ratio of 0.92.

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

Insiders Place Their Bets

In other Open Text news, insider Paul Michael Duggan sold 4,624 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of C$33.70, for a total value of C$155,828.80. Following the completion of the sale, the insider owned 13,790 shares of the company’s stock, valued at C$464,723. This trade represents a 25.11% decrease in their ownership of the stock. Over the last 90 days, insiders have sold 13,870 shares of company stock valued at $456,046. Corporate 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.