Royal Bank of Canada Increases Open Text (TSE:OTEX) Price Target to C$60.00

Open Text (TSE:OTEX) (NASDAQ:OTEX) had its price objective boosted by Royal Bank of Canada to C$60.00 in a research note issued to investors on Monday, Stock Target Advisor reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential downside of 3.97% from the company’s previous close.

Separately, TD Securities upped their price target on shares of Open Text to C$55.00 and gave the company a “na” rating in a research report on Monday. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of C$58.60.

TSE OTEX opened at C$62.48 on Monday. The company has a 50-day simple moving average of C$58.71 and a two-hundred day simple moving average of C$57.16. The company has a quick ratio of 1.30, a current ratio of 1.39 and a debt-to-equity ratio of 96.89. Open Text has a 12-month low of C$42.30 and a 12-month high of C$64.00. The firm has a market cap of C$17.04 billion and a price-to-earnings ratio of 188.76.

In other news, Senior Officer Simon David Harrison sold 5,962 shares of the company’s stock in a transaction dated Monday, November 23rd. The shares were sold at an average price of C$57.22, for a total transaction of C$341,159.14. Following the completion of the transaction, the insider now directly owns 16,762 shares of the company’s stock, valued at C$959,159.59.

About Open Text

Open Text Corporation provides a suite of software products and services. The company offers content services; business network that manages and connects data within the organization; Cyber Resilience, a solution for defending against cyber threats and preparing for business continuity and response in the event of a breach; OpenText security solutions that addresses information security and digital investigations; AI and analytics that leverages structured or unstructured data; and OpenText Information Management software platform that provides multi-level, multi-role, and multi context security information platforms.

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