Insider Selling: Open Text (TSE:OTEX) Insider Sells 4,623 Shares of Stock

Open Text Co. (TSE:OTEX) (NASDAQ:OTEX) insider Paul Michael Duggan sold 4,623 shares of the company’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of C$32.82, for a total transaction of C$151,726.86. Following the completion of the transaction, the insider owned 18,414 shares of the company’s stock, valued at C$604,347.48. This trade represents a 20.07% decrease in their ownership of the stock.

Paul Michael Duggan also recently made the following trade(s):

• On Monday, June 1st, Paul Michael Duggan sold 4,624 shares of Open Text stock. The shares were sold at an average price of C$33.70, for a total transaction of C$155,828.80.
• On Tuesday, May 26th, Paul Michael Duggan sold 4,623 shares of Open Text stock. The shares were sold at an average price of C$32.12, for a total transaction of C$148,490.76.

Open Text Stock Up 7.5%

Shares of OTEX stock traded up C$2.45 on Monday, hitting C$35.23. The stock had a trading volume of 995,213 shares, compared to its average volume of 1,774,546. The firm has a market capitalization of C$8.55 billion, a price-to-earnings ratio of 17.10, a P/E/G ratio of 1.35 and a beta of 0.93. The stock’s 50 day moving average is C$31.30 and its 200-day moving average is C$37.33. 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 Co. has a 52-week low of C$27.63 and a 52-week high of C$56.00.

Open Text (TSE:OTEX) (NASDAQ:OTEX) last announced its earnings results 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 during the quarter. Open Text had a net margin of 9.89% and a return on equity of 12.88%. As a group, research analysts expect that Open Text Co. will post 4.9036649 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on OTEX shares. TD Securities reduced their price objective on shares of Open Text from C$40.00 to C$28.00 and set a “hold” rating on the stock in a research note on Monday, February 2nd. TD reduced their price objective on shares of 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 research analysts have rated the stock with a Hold rating, According to MarketBeat, Open Text presently has a consensus rating of “Hold” and a consensus target price 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.