Open Text Corp (NASDAQ: OTEX) is -14.54% lower on its value in year-to-date trading and has touched a low of $32.04 and a high of $45.47 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The OTEX stock was last observed hovering at around $36.15 in the last trading session, with the day’s loss setting it -0.24%.
Currently trading at $35.91, the stock is -6.48% and -8.78% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.69 million and changing -0.66% at the moment leaves the stock -7.79% off its SMA200. OTEX registered -7.21% loss for a year compared to 6-month gain of 0.98%. The firm has a 50-day simple moving average (SMA 50) of $3.08 and a 200-day simple moving average (SMA200) of $11.25.
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The stock witnessed a -6.29% loss in the last 1 month and extending the period to 3 months gives it a -13.62%, and is -4.11% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.75% over the week and 1.97% over the month.
Open Text Corp (OTEX) has around 24100 employees, a market worth around $9.77B and $5.70B in sales. Current P/E ratio is 76.62 and Fwd P/E is 7.02. Profit margin for the company is 2.24%. Distance from 52-week low is 12.08% and -21.02% from its 52-week high. The company has generated returns on investments over the last 12 months (1.00%).
Open Text Corp quarterly earnings per share for the current quarter are estimated at $0.94 with sales reaching $1.43B over the same period.The EPS is expected to grow by 40.06% this year, but quarterly earnings will post 32.20% year-over-year.
539 institutions hold shares in Open Text Corp (OTEX), with institutional investors hold 79.69% of the company’s shares. The shares outstanding are 270.90M, and float is at 266.09M with Short Float at 2.05%. Institutions hold 77.92% of the Float.
The top institutional shareholder in the company is Jarislowsky, Fraser Ltd with over 16.14 million shares valued at $670.67 million. The investor’s holdings represent 5.95% of the OTEX Shares outstanding. As of Jun 29, 2023, the second largest holder is Harris Associates L.P. with 11.34 million shares valued at $471.1 million to account for 4.18% of the shares outstanding. The other top investors are Royal Bank of Canada which holds 11.3 million shares representing 4.17% and valued at over $469.52 million, while Vanguard Group Inc holds 3.66% of the shares totaling 9.93 million with a market value of $412.66 million.
