Open Text (TSE:OTEX) Share Price Crosses Above Fifty Day Moving Average – What’s Next?

Shares of Open Text Co. (TSE:OTEX) (NASDAQ:OTEX) crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$31.69 and traded as high as C$32.94. Open Text shares last traded at C$32.80, with a volume of 674,176 shares changing hands.

Analysts Set New Price Targets

Separately, TD dropped their target price on 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 research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Open Text presently has an average rating of “Hold” and a consensus target price of C$27.50.

Open Text Stock Up 0.6%

The company has a market cap of C$7.96 billion, a PE ratio of 15.92, a P/E/G ratio of 1.35 and a beta of 1.28. The stock has a 50-day moving average of C$31.69 and a 200-day moving average of C$33.55. 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 (TSE:OTEX) (NASDAQ:OTEX) last released its quarterly earnings results on Thursday, May 7th. The company reported C$1.40 earnings per share for the quarter. The firm had revenue of C$1.78 billion for the quarter. Open Text had a return on equity of 12.88% and a net margin of 9.89%. Sell-side analysts predict that Open Text Co. will post 4.9036649 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Paul Michael Duggan sold 4,624 shares of the firm’s stock in a transaction that occurred 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 sale, the insider directly owned 13,790 shares of the company’s stock, valued at C$464,723. This trade 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 quarter. Company insiders own 2.11% of the company’s stock.

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.