Open Text (TSE:OTEX) Shares Pass Below 50 Day Moving Average of $55.95

Open Text Corp (TSE:OTEX) (NASDAQ:OTEX) passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $55.95 and traded as low as $46.35. Open Text shares last traded at $50.00, with a volume of 928,862 shares changing hands.

Separately, Pi Financial raised shares of Open Text from a “sell” rating to a “neutral” rating in a research report on Tuesday, March 10th.

The business’s 50 day simple moving average is C$55.72 and its 200 day simple moving average is C$56.27. The company has a quick ratio of 0.58, a current ratio of 0.62 and a debt-to-equity ratio of 95.00. The stock has a market cap of $12.40 billion and a price-to-earnings ratio of 37.98.

In other Open Text news, Senior Officer Gordon Allan Davies sold 65,374 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of C$61.54, for a total value of C$4,023,132.17. Following the transaction, the insider now directly owns 54,084 shares of the company’s stock, valued at approximately C$3,328,342.77. Also, Senior Officer Christopher James Mcgourlay sold 2,099 shares of Open Text stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of C$62.65, for a total transaction of C$131,510.33. Following the sale, the insider now directly owns 13,031 shares in the company, valued at C$816,441.67. Over the last ninety days, insiders have sold 412,473 shares of company stock worth $25,355,380.

Open Text Company Profile (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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