Open Text Corp (NASDAQ: OTEX) is -23.82% lower on its value in year-to-date trading and has touched a low of $27.50 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 $32.62 in the last trading session, with the day’s loss setting it -0.61%.
Currently trading at $32.01, the stock is 3.47% and 4.10% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.56 million and changing -1.87% at the moment leaves the stock -10.44% off its SMA200. OTEX registered -17.90% loss for a year compared to 6-month loss of -17.24%.
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The stock witnessed a 2.74% gain in the last 1 month and extending the period to 3 months gives it a 8.36%, and is -0.40% 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 1.89% over the week and 2.75% over the month.
Open Text Corp (OTEX) has around 22900 employees, a market worth around $8.58B and $5.77B in sales. Current P/E ratio is 18.72 and Fwd P/E is 7.37. Profit margin for the company is 8.06%. Distance from 52-week low is 16.40% and -29.60% from its 52-week high. The company has generated returns on investments over the last 12 months (4.32%).
The EPS is expected to shrink by -13.33% this year
521.0 institutions hold shares in Open Text Corp (OTEX), with institutional investors hold 79.28% of the company’s shares. The shares outstanding are 267.80M, and float is at 262.61M with Short Float at 1.45%. Institutions hold 77.61% of the Float.
The top institutional shareholder in the company is JARISLOWSKY, FRASER LTD with over 15.7 million shares valued at $471.41 million. The investor’s holdings represent 5.7672 of the OTEX Shares outstanding. As of 2024-06-30, the second largest holder is ROYAL BANK OF CANADA with 13.6 million shares valued at $408.4 million to account for 4.9932 of the shares outstanding. The other top investors are HARRIS ASSOCIATES L P which holds 12.89 million shares representing 4.7341 and valued at over $387.1 million, while VANGUARD GROUP INC holds 3.8328 of the shares totaling 10.44 million with a market value of $313.48 million.
