Open Text (TSE:OTEX) Shares Cross Above 50 Day Moving Average – Time to Sell?

Open Text Co. (TSE:OTEX) (NASDAQ:OTEX) shares crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$31.47 and traded as high as C$32.95. Open Text shares last traded at C$32.67, with a volume of 1,255,654 shares traded.

Analyst Ratings Changes

Separately, TD decreased their price objective on 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 research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of C$27.50.

Open Text Stock Performance

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 has a fifty day moving average of C$31.47 and a 200-day moving average of C$34.67. The stock has a market cap of C$7.93 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 1.35 and a beta of 1.25.

Open Text (TSE:OTEX) (NASDAQ:OTEX) last issued its quarterly earnings results on Thursday, May 7th. The company reported C$1.40 earnings per share (EPS) 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%. On average, equities analysts forecast that Open Text Co. will post 4.9036649 EPS for the current year.

Insider Activity

In other news, insider Paul Michael Duggan sold 4,624 shares of the business’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 value of C$155,828.80. Following the transaction, the insider owned 13,790 shares of the company’s stock, valued at approximately C$464,723. The trade was a 25.11% decrease in their ownership of the stock. Insiders sold a total of 13,870 shares of company stock valued at $456,046 over the last quarter. 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.