Open Text (TSE:OTEX) Posts Quarterly Earnings Results

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

Open Text Trading Down 3.1%

Shares of TSE:OTEX opened at C$34.83 on Friday. The firm has a fifty day moving average of C$32.35 and a two-hundred day moving average of C$32.61. The company has a quick ratio of 1.34, a current ratio of 0.92 and a debt-to-equity ratio of 161.91. Open Text has a 12-month low of C$27.63 and a 12-month high of C$56.00. The firm has a market capitalization of C$8.45 billion, a P/E ratio of 16.91, a price-to-earnings-growth ratio of 1.35 and a beta of 1.29.

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 transaction, the insider directly owned 13,790 shares of the company’s stock, valued at approximately C$464,723. This represents a 25.11% decrease in their ownership of the stock. Insiders have sold 13,870 shares of company stock valued at $456,046 over the last 90 days. Corporate insiders own 2.11% of the company’s stock.

Wall Street Analyst Weigh In

Separately, TD lowered 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 report on Monday, May 11th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of C$27.50.

Open Text Company Profile

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.