Insider Selling: Open Text (TSE:OTEX) Insider Sells C$151,726.86 in Stock

Open Text Co. (TSE:OTEX) (NASDAQ:OTEX) insider Paul Michael Duggan sold 4,623 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of C$32.82, for a total value of C$151,726.86. Following the sale, the insider directly owned 18,414 shares in the company, valued at approximately C$604,347.48. This trade represents a 20.07% decrease in their ownership of the stock.

Paul Michael Duggan also recently made the following trade(s):

• On Monday, June 1st, Paul Michael Duggan sold 4,624 shares of Open Text stock. The stock was sold at an average price of C$33.70, for a total value of C$155,828.80.
• On Tuesday, May 26th, Paul Michael Duggan sold 4,623 shares of Open Text stock. The shares were sold at an average price of C$32.12, for a total value of C$148,490.76.

Open Text Stock Performance

TSE:OTEX opened at C$32.87 on Thursday. The stock’s 50-day simple moving average is C$31.48 and its 200 day simple moving average is C$37.02. The firm has a market capitalization of C$7.98 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 1.35 and a beta of 0.93. 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 twelve month low of C$27.63 and a twelve month high of C$56.00.

Open Text (TSE:OTEX) (NASDAQ:OTEX) last released its quarterly earnings data on Thursday, May 7th. The company reported C$1.40 earnings per share for the quarter. The business 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, analysts anticipate that Open Text Co. will post 4.9036649 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, TD reduced their price objective on Open Text from C$28.00 to C$27.00 and set a “hold” rating on the stock in a research note on Monday, May 11th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Open Text has an average rating of “Hold” and an average 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.