Open Text (TSE:OTEX) Issues Quarterly Earnings Results

Open Text (TSE:OTEX) (NASDAQ:OTEX) issued its quarterly earnings results on Thursday. The company reported C$1.85 earnings per share (EPS) for the quarter, reports. The firm had revenue of C$2.04 billion for the quarter. Open Text had a return on equity of 12.88% and a net margin of 9.89%.

Open Text Trading Down 3.6%

Open Text stock traded down C$1.28 during midday trading on Friday, reaching C$34.74. The stock had a trading volume of 2,386,004 shares, compared to its average volume of 1,717,186. Open Text has a twelve month low of C$27.63 and a twelve month high of C$56.00. The stock has a market capitalization of C$8.43 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 1.35 and a beta of 1.29. The company has a debt-to-equity ratio of 161.91, a quick ratio of 1.34 and a current ratio of 0.92. The stock’s 50-day simple moving average is C$32.39 and its 200 day simple moving average is C$32.63.

Insider Transactions at Open Text

In other Open Text news, insider Paul Michael Duggan sold 4,624 shares of the company’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 directly owned 13,790 shares in the company, valued at 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 worth $456,046 over the last ninety days. 2.11% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, TD dropped 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 note on Monday, May 11th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.