Open Text Corp (NASDAQ: OTEX) is -11.33% lower on its value in year-to-date trading and has touched a low of $24.91 and a high of $40.55 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 $25.28 in the last trading session, with the day’s loss setting it -0.17%.
Currently trading at $25.11, the stock is -5.24% and -9.54% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.2 million and changing -0.67% at the moment leaves the stock -16.49% off its SMA200. OTEX registered -35.05% loss for a year compared to 6-month loss of -21.70%. The firm has a 50-day simple moving average (SMA 50) of $27.7586 and a 200-day simple moving average (SMA200) of $30.0666.
The stock witnessed a -12.39% gain in the last 1 month and extending the period to 3 months gives it a -17.75%, and is -3.12% 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 2.89% over the week and 2.45% over the month.
Open Text Corp (OTEX) has around 22900 employees, a market worth around $6.63B and $5.41B in sales. Current P/E ratio is 10.23 and Fwd P/E is 6.03. Profit margin for the company is 12.21%. Distance from 52-week low is 0.80% and -38.08% from its 52-week high. The company has generated returns on investments over the last 12 months (6.13%).
The EPS is expected to shrink by -10.88% this year
538.0 institutions hold shares in Open Text Corp (OTEX), with institutional investors hold 77.58% of the company’s shares. The shares outstanding are 263.73M, and float is at 257.63M with Short Float at 2.08%. Institutions hold 75.94% 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 5.7826 of the OTEX Shares outstanding. As of 2024-06-30, the second largest holder is ROYAL BANK OF CANADA with 13.59 million shares valued at $408.25 million to account for 4.9914 of the shares outstanding. The other top investors are HARRIS ASSOCIATES L P which holds 12.89 million shares representing 4.7468 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.
