Open Text (TSE:OTEX) Stock Price Up 2.1% – Here’s Why

Shares of Open Text Co. (TSE:OTEX) (NASDAQ:OTEX) rose 2.1% on Wednesday . The stock traded as high as C$44.31 and last traded at C$44.07. Approximately 669,186 shares traded hands during mid-day trading, an increase of 1% from the average daily volume of 665,313 shares. The stock had previously closed at C$43.18.

Open Text Price Performance

The company has a debt-to-equity ratio of 159.37, a current ratio of 0.81 and a quick ratio of 1.34. The company has a market capitalization of C$11.82 billion, a PE ratio of 18.67, a PEG ratio of 1.35 and a beta of 1.12. The firm has a 50-day moving average of C$43.70 and a 200 day moving average of C$42.46.

Insider Activity

In other Open Text news, Director Mark James Barrenechea sold 60,536 shares of Open Text stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of C$39.98, for a total value of C$2,420,311.61. Also, Senior Officer Michael Fernando Acedo sold 1,311 shares of Open Text stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of C$39.98, for a total value of C$52,415.56. Insiders own 2.11% of the company’s stock.

Open Text Company Profile

Open Text Corporation engages in the provision of information management products and services. The company offers content services, including content collaboration and intelligent capture to records management, collaboration, e-signatures, and archiving; and operates experience cloud platform that provides customer experience and web content management, digital asset management, customer analytics, AI and insights, e-discovery, digital fax, omnichannel communications, secure messaging, and voice of customer, as well as customer journey, testing, and segmentation.