Open Text (TSE:OTEX) Hits New 1-Year Low After Analyst Downgrade

Open Text Co. (TSE:OTEX) (NASDAQ:OTEX) hit a new 52-week low during trading on Tuesday after TD Securities lowered their price target on the stock from C$40.00 to C$28.00. TD Securities currently has a hold rating on the stock. Open Text traded as low as C$31.45 and last traded at C$31.75, with a volume of 567740 shares changing hands. The stock had previously closed at C$33.84.

Insider Transactions at Open Text

In other Open Text news, insider Brian Paul Sweeney sold 8,050 shares of Open Text stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of C$49.31, for a total transaction of C$396,945.50. Following the transaction, the insider directly owned 12,500 shares of the company’s stock, valued at C$616,375. The trade was a 39.17% decrease in their ownership of the stock. Insiders own 2.11% of the company’s stock.

Open Text Trading Down 6.6%

The company has a market cap of C$7.97 billion, a PE ratio of 16.55, a price-to-earnings-growth ratio of 1.35 and a beta of 0.62. The company’s 50 day simple moving average is C$43.71 and its two-hundred day simple moving average is C$46.58. The company has a debt-to-equity ratio of 157.46, a current ratio of 0.87 and a quick ratio of 1.34.

Open Text (TSE:OTEX) (NASDAQ:OTEX) last issued its quarterly earnings data on Wednesday, November 5th. The company reported C$1.05 EPS for the quarter. The firm had revenue of C$1.79 billion for the quarter. Open Text had a net margin of 12.21% and a return on equity of 15.83%. As a group, sell-side analysts anticipate that Open Text Co. will post 4.9036649 EPS for the current fiscal year.

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.