Open Text (TSE:OTEX) Price Target Lowered to C$28.00 at TD Securities

Open Text (TSE:OTEX) (NASDAQ:OTEX) had its price objective reduced by TD Securities from C$40.00 to C$28.00 in a report published on Monday morning,BayStreet.CA reports. TD Securities currently has a hold rating on the stock.

Open Text Trading Down 2.7%

Shares of OTEX stock opened at C$33.84 on Monday. The company has a debt-to-equity ratio of 157.46, a current ratio of 0.87 and a quick ratio of 1.34. The company has a market cap of C$8.53 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 1.35 and a beta of 0.91. Open Text has a 1 year low of C$32.41 and a 1 year high of C$56.00. The firm has a fifty day moving average price of C$44.03 and a 200-day moving average price of C$46.63.

Open Text (TSE:OTEX) (NASDAQ:OTEX) last released its earnings results on Wednesday, November 5th. The company reported C$1.05 earnings per share for the quarter. Open Text had a return on equity of 15.83% and a net margin of 12.21%.The company had revenue of C$1.79 billion for the quarter. As a group, equities analysts predict that Open Text will post 4.9036649 earnings per share for the current year.

Insider Activity

In related news, insider Brian Paul Sweeney sold 8,050 shares of the stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of C$49.31, for a total value of C$396,945.50. Following the completion of the sale, 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 position. Company insiders own 2.11% of the company’s stock.

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.