Open Text (TSE:OTEX) Reaches New 52-Week Low at $37.97

Open Text Co. (TSE:OTEXGet Rating) (NASDAQ:OTEX) shares reached a new 52-week low during mid-day trading on Friday . The stock traded as low as C$37.97 and last traded at C$38.02, with a volume of 550962 shares changing hands. The stock had previously closed at C$38.66.

Analyst Upgrades and Downgrades

Separately, National Bankshares reissued a “buy” rating and issued a C$60.00 price target on shares of Open Text in a research note on Friday, June 17th.

Open Text Price Performance

The company has a 50 day simple moving average of C$47.19 and a 200-day simple moving average of C$49.90. The stock has a market cap of C$10.09 billion and a price-to-earnings ratio of 19.74. The company has a current ratio of 1.56, a quick ratio of 1.48 and a debt-to-equity ratio of 110.97.

Insider Activity at Open Text

In related news, Director Stephen Sadler bought 10,000 shares of the stock in a transaction that occurred on Thursday, September 15th. The shares were acquired at an average price of C$38.70 per share, with a total value of C$387,000.00. Following the completion of the transaction, the director now owns 235,000 shares in the company, valued at C$9,094,500. In related news, Director P. Thomas Jenkins bought 750,000 shares of the stock in a transaction that occurred on Monday, August 29th. The shares were acquired at an average price of C$40.83 per share, with a total value of C$30,621,278.25. Following the completion of the transaction, the director now owns 1,743,349 shares in the company, valued at C$71,178,099.75. Also, Director Stephen Sadler purchased 10,000 shares of the stock in a transaction on Thursday, September 15th. The shares were acquired at an average cost of C$38.70 per share, for a total transaction of C$387,000.00. Following the transaction, the director now owns 235,000 shares of the company’s stock, valued at C$9,094,500. Over the last quarter, insiders have purchased 825,000 shares of company stock valued at $33,588,258.

Open Text Company Profile

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Open Text Corporation engages in the designs, develops, markets, and sells information management software and solutions. It offers content services; business network that manages data within the organization and outside the firewall; security and protection solutions for defending against cyber threats, and preparing for business continuity and response in the event of a breach; digital investigation and forensic security solutions; OpenText security solutions to address information cyber resilience needs; Carbonite and Webroot products; and OpenText Information Management software platform.

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