Open Text (TSE:OTEX) Announces Quarterly Earnings Results

Open Text (TSE:OTEX) (NASDAQ:OTEX) announced its quarterly earnings data on Thursday. The company reported C$1.55 earnings per share for the quarter, FiscalAI reports. Open Text had a net margin of 12.21% and a return on equity of 15.83%. The business had revenue of C$1.82 billion for the quarter.

Open Text Price Performance

OTEX stock traded down C$0.89 during mid-day trading on Thursday, hitting C$31.22. The company had a trading volume of 1,549,166 shares, compared to its average volume of 1,082,012. The company has a 50-day moving average price of C$43.40 and a 200 day moving average price of C$46.47. Open Text has a 12-month low of C$30.65 and a 12-month high of C$56.00. The company has a market capitalization of C$7.87 billion, a price-to-earnings ratio of 16.35, a P/E/G ratio of 1.35 and a beta of 0.62. The company has a quick ratio of 1.34, a current ratio of 0.87 and a debt-to-equity ratio of 157.46.

Analyst Upgrades and Downgrades

Separately, TD Securities lowered their price target on Open Text from C$40.00 to C$28.00 and set a “hold” rating for the company in a research report on Monday. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Open Text presently has a consensus rating of “Hold” and a consensus target price of C$28.00.

Insider Activity at Open Text

In related news, insider Brian Paul Sweeney sold 8,050 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of C$49.31, for a total transaction of C$396,945.50. Following the completion of the transaction, the insider directly owned 12,500 shares of the company’s stock, valued at approximately C$616,375. This represents a 39.17% decrease in their ownership of the stock. Corporate 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.