TD Securities Cuts Open Text (TSE:OTEX) Price Target to C$28.00

Open Text (TSE:OTEX) (NASDAQ:OTEX) had its target price lowered by TD Securities from C$40.00 to C$28.00 in a report published on Monday morning,BayStreet.CA reports. TD Securities currently has a hold rating on the stock.

Open Text Stock Up 1.6%

Shares of TSE:OTEX opened at C$32.11 on Monday. Open Text has a 1 year low of C$30.65 and a 1 year high of C$56.00. The company has a debt-to-equity ratio of 157.46, a current ratio of 0.87 and a quick ratio of 1.34. The business’s 50-day moving average is C$43.40 and its 200-day moving average is C$46.47. The company has a market capitalization of C$8.09 billion, a price-to-earnings ratio of 16.81, a P/E/G ratio of 1.35 and a beta of 0.62.

Open Text (TSE:OTEX) (NASDAQ:OTEX) last issued its earnings results on Wednesday, November 5th. The company reported C$1.05 earnings per share for the quarter. Open Text had a return on equity of 15.83% and a net margin of 12.21%.The business had revenue of C$1.79 billion during the quarter. Equities research analysts predict that Open Text will post 4.9036649 earnings per share for the current year.

Insider Transactions at Open Text

In other Open Text news, insider Brian Paul Sweeney sold 8,050 shares of the firm’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of C$49.31, for a total value of C$396,945.50. Following the completion of the sale, the insider directly owned 12,500 shares in the company, valued at approximately C$616,375. This trade represents a 39.17% decrease in their ownership of the stock. 2.11% of the stock is currently owned by corporate insiders.

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.