Open Text (TSE:OTEX) Shares Pass Below Fifty Day Moving Average – Time to Sell?

Open Text Co. (TSE:OTEX) (NASDAQ:OTEX) passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$31.57 and traded as low as C$31.22. Open Text shares last traded at C$31.40, with a volume of 1,511,273 shares changing hands.

Analysts Set New Price Targets

Separately, TD lowered their price objective on Open Text from C$28.00 to C$27.00 and set a “hold” rating on the stock in a report on Monday, May 11th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Open Text currently has an average rating of “Hold” and an average target price of C$27.50.

Open Text Stock Performance

The company has a current ratio of 0.92, a quick ratio of 1.34 and a debt-to-equity ratio of 161.91. The firm has a market cap of C$7.35 billion, a price-to-earnings ratio of 14.70, a price-to-earnings-growth ratio of 1.35 and a beta of 1.25. The stock has a fifty day moving average price of C$31.60 and a 200 day moving average price of C$36.50.

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

Insider Transactions at Open Text

In other Open Text news, insider Paul Michael Duggan sold 4,624 shares of the firm’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 sale, the insider owned 13,790 shares of the company’s stock, valued at C$464,723. This trade represents a 25.11% decrease in their position. Over the last quarter, insiders sold 13,870 shares of company stock valued at $456,046. 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.