Open Text (TSE:OTEX) Insider Sells C$155,828.80 in Stock

Open Text Co. (TSE:OTEX) (NASDAQ:OTEX) insider Paul Michael Duggan sold 4,624 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of C$33.70, for a total transaction of C$155,828.80. Following the sale, the insider directly owned 13,790 shares in the company, valued at approximately C$464,723. The trade was 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 transaction 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 transaction of C$148,490.76.

Open Text Stock Up 7.5%

TSE OTEX traded up C$2.45 on Monday, hitting C$35.23. 995,213 shares of the stock were exchanged, compared to its average volume of 1,774,546. 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 Co. has a fifty-two week low of C$27.63 and a fifty-two week high of C$56.00. The company has a market cap of C$8.55 billion, a PE ratio of 17.10, a PEG ratio of 1.35 and a beta of 0.93. The company has a 50-day moving average price of C$31.30 and a 200-day moving average price of C$37.33.

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

Analyst Ratings Changes

Several research analysts have commented on the stock. TD Securities lowered their price target on shares of Open Text from C$40.00 to C$28.00 and set a “hold” rating for the company in a report on Monday, February 2nd. TD lowered their price target on shares of Open Text from C$28.00 to C$27.00 and set a “hold” rating for the company in a report on Monday, May 11th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.