Open Text (TSE:OTEX – Get Free Report) (NASDAQ:OTEX) released its quarterly earnings data on Thursday. The company reported C$1.85 earnings per share for the quarter, reports. The firm had revenue of C$2.04 billion during the quarter. Open Text had a return on equity of 12.88% and a net margin of 9.89%.
Open Text Stock Up 0.2%
Shares of OTEX traded up C$0.06 during midday trading on Thursday, hitting C$36.02. The company had a trading volume of 2,716,213 shares, compared to its average volume of 1,712,727. 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 company’s 50 day moving average price is C$32.27 and its 200 day moving average price is C$32.65. Open Text has a 52 week low of C$27.63 and a 52 week high of C$56.00. The stock has a market cap of C$8.74 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 1.35 and a beta of 1.29.
Wall Street Analysts Forecast Growth
Separately, TD dropped 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 investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Open Text has a consensus rating of “Hold” and a consensus target price of C$27.50.
Insiders Place Their Bets
In other news, insider Paul Michael Duggan sold 4,624 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of C$33.70, for a total value of C$155,828.80. Following the transaction, the insider directly owned 13,790 shares in the company, valued at approximately C$464,723. This trade represents a 25.11% decrease in their position. Insiders have sold a total of 13,870 shares of company stock worth $456,046 in the last three months. 2.11% of the stock is owned by insiders.
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.
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