Open Text Co. (TSE:OTEX) Receives C$71.67 Average Price Target from Analysts

Open Text Co. (TSE:OTEX) (NASDAQ:OTEX) has been given an average rating of “Buy” by the six analysts that are currently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokerages that have covered the stock in the last year is C$71.67.

A number of research analysts recently commented on OTEX shares. CIBC upped their price objective on Open Text to C$81.00 and gave the company an “outperform” rating in a report on Friday, August 6th. Raymond James upped their price target on Open Text to C$79.00 and gave the stock an “outperform” rating in a research note on Friday, August 6th. TD Securities upped their price target on Open Text to C$72.50 and gave the stock a “buy” rating in a research note on Friday, August 6th. National Bankshares upped their price target on Open Text from C$50.75 to C$60.00 and gave the stock an “outperform” rating in a research note on Thursday, July 22nd. Finally, Royal Bank of Canada upped their price target on Open Text to C$77.50 and gave the stock an “outperform” rating in a research note on Friday, August 6th.

In other news, Senior Officer Gordon Allan Davies sold 99,280 shares of the company’s stock in a transaction on Friday, August 27th. The stock was sold at an average price of C$71.52, for a total transaction of C$7,100,149.38. Following the sale, the insider now owns 63,404 shares of the company’s stock, valued at C$4,534,426.59. Also, Director Mark James Barrenechea sold 124,376 shares of the stock in a transaction on Tuesday, August 31st. The shares were sold at an average price of C$72.40, for a total value of C$9,005,071.15. Following the completion of the transaction, the director now directly owns 1,010,242 shares in the company, valued at approximately C$73,143,541.28. Insiders have sold 312,401 shares of company stock worth $22,376,732 in the last ninety days.

OTEX traded down C$0.43 during trading hours on Friday, reaching C$66.40. The company’s stock had a trading volume of 174,743 shares, compared to its average volume of 476,409. Open Text has a fifty-two week low of C$47.95 and a fifty-two week high of C$69.79. The stock has a market cap of C$18.04 billion and a PE ratio of 46.19. The business’s 50-day moving average is C$66.16 and its 200-day moving average is C$61.91. The company has a debt-to-equity ratio of 94.44, a current ratio of 1.62 and a quick ratio of 1.55.

Open Text Company Profile

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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Analyst Recommendations for Open Text (TSE:OTEX)

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