Open Text (OTEX) Reaches New 52-Week High at $55.03

Shares of Open Text Corp (TSE:OTEX) (NASDAQ:OTEX) hit a new 52-week high during trading on Friday . The company traded as high as C$55.03 and last traded at C$55.02, with a volume of 279458 shares. The stock had previously closed at C$54.28.

A number of analysts have recently commented on the stock. BMO Capital Markets set a C$45.00 price target on shares of Open Text and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Barclays lifted their price target on shares of Open Text from C$63.00 to C$64.00 in a research note on Monday, February 4th.

The company has a market capitalization of $14.47 billion and a P/E ratio of 53.29. The company has a current ratio of 1.38, a quick ratio of 1.28 and a debt-to-equity ratio of 68.16.

In related news, Senior Officer Christopher James Mcgourlay sold 2,640 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of C$53.85, for a total value of C$142,164.00. Following the transaction, the insider now owns 12,800 shares of the company’s stock, valued at C$689,280. Also, Director Randy Fowlie sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of C$51.01, for a total transaction of C$510,100.00. Following the completion of the transaction, the director now directly owns 211,000 shares in the company, valued at approximately C$10,763,110.

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About Open Text (TSE:OTEX)

Open Text Corporation provides a suite of software products and services. The company offers content services; digital process automation, which enables organizations to transform into digital and data-driven businesses through automation; and discovery suite that provides forensics and unstructured data analytics for searching, collecting, and investigating enterprise data to manage legal obligations and risk.

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