Paul Michael Duggan Sells 4,624 Shares of Open Text (TSE:OTEX) Stock

Open Text Co. (TSE:OTEX) (NASDAQ:OTEX) insider Paul Michael Duggan sold 4,624 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of C$33.70, for a total value of C$155,828.80. Following the transaction, the insider owned 13,790 shares in the company, valued at C$464,723. This trade represents a 25.11% decrease in their ownership of the stock.

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

• On Friday, May 29th, Paul Michael Duggan sold 4,623 shares of Open Text stock. The stock was sold at an average price of C$32.82, for a total value of C$151,726.86.
• On Tuesday, May 26th, Paul Michael Duggan sold 4,623 shares of Open Text stock. The stock was sold at an average price of C$32.12, for a total value of C$148,490.76.

Open Text Stock Down 2.3%

TSE:OTEX opened at C$34.29 on Wednesday. The company has a quick ratio of 1.34, a current ratio of 0.92 and a debt-to-equity ratio of 161.91. The stock’s fifty day moving average is C$31.39 and its two-hundred day moving average is C$37.23. Open Text Co. has a 52 week low of C$27.63 and a 52 week high of C$56.00. The stock has a market capitalization of C$8.32 billion, a price-to-earnings ratio of 16.65, a price-to-earnings-growth ratio of 1.35 and a beta of 0.93.

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

Analysts Set New Price Targets

Separately, TD reduced their price objective 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 equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average 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.