Open Text (TSE:OTEX) Share Price Crosses Above Fifty Day Moving Average – What’s Next?

Open Text Co. (TSE:OTEX) (NASDAQ:OTEX)’s stock price passed 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.

Analyst Ratings Changes

Separately, TD reduced their target price 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 analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of C$27.50.

Open Text Trading Up 0.6%

The stock has a fifty day moving average of C$31.69 and a two-hundred day moving average of C$33.55. The company has a market capitalization of C$7.96 billion, a PE ratio of 15.92, a PEG ratio of 1.35 and a beta of 1.28. The company has a current ratio of 0.92, a quick ratio of 1.34 and a debt-to-equity ratio of 161.91.

Open Text (TSE:OTEX) (NASDAQ:OTEX) last issued its 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. As a group, sell-side analysts anticipate that Open Text Co. will post 4.9036649 earnings per share for the current fiscal year.

Insider Buying and Selling 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 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 approximately C$464,723. This represents a 25.11% decrease in their position. In the last three months, insiders have sold 13,870 shares of company stock valued at $456,046. Insiders own 2.11% of the company’s stock.

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.