Open Text (TSE:OTEX) Sets New 1-Year Low After Analyst Downgrade

Open Text Co. (TSE:OTEX) (NASDAQ:OTEX)’s stock price reached a new 52-week low on Tuesday after TD Securities lowered their price target on the stock from C$40.00 to C$28.00. TD Securities currently has a hold rating on the stock. Open Text traded as low as C$31.45 and last traded at C$31.75, with a volume of 567740 shares trading hands. The stock had previously closed at C$33.84.

Insider Activity at Open Text

In related news, insider Brian Paul Sweeney sold 8,050 shares of the business’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of C$49.31, for a total transaction of C$396,945.50. Following the transaction, the insider owned 12,500 shares in the company, valued at C$616,375. The trade was a 39.17% decrease in their ownership of the stock. Corporate insiders own 2.11% of the company’s stock.

Open Text Price Performance

The firm’s fifty day simple moving average is C$44.03 and its 200-day simple moving average is C$46.63. The company has a quick ratio of 1.34, a current ratio of 0.87 and a debt-to-equity ratio of 157.46. The firm has a market capitalization of C$8.01 billion, a PE ratio of 16.63, a PEG ratio of 1.35 and a beta of 0.91.

Open Text (TSE:OTEX) (NASDAQ:OTEX) last announced its quarterly earnings results on Wednesday, November 5th. The company reported C$1.05 earnings per share (EPS) for the quarter. The firm had revenue of C$1.79 billion for the quarter. Open Text had a return on equity of 15.83% and a net margin of 12.21%. On average, research analysts forecast that Open Text Co. will post 4.9036649 earnings per share for the current fiscal year.

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.