Open Text Corp (NASDAQ: OTEX) is -1.77% lower on its value in year-to-date trading and has touched a low of $22.79 and a high of $34.20 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 $28.62 in the last trading session, with the day’s loss setting it -27.19%.
Currently trading at $1.43M, the stock is 1.77% and 4.62% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.3 million and changing 1303009% at the moment leaves the stock 0.16% off its SMA200. OTEX registered 1.94% gain for a year compared to 6-month gain of 4.60%. The firm has a 50-day simple moving average (SMA 50) of $27.5956 and a 200-day simple moving average (SMA200) of $28.8228.
The stock witnessed a 1.51% loss in the last 1 month and extending the period to 3 months gives it a 7.64%, and is 1.94% up 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 2.19% over the week and 1.86% over the month.
Open Text Corp (OTEX) has around 22900 employees, a market worth around $7.48B and $5.22B in sales. Current P/E ratio is 11.80 and Fwd P/E is 6.92. Profit margin for the company is 12.55%. Distance from 52-week low is 26.68% and -15.58% from its 52-week high. The company has generated returns on investments over the last 12 months (6.14%).
The EPS is expected to shrink by -11.74% this year
516.0 institutions hold shares in Open Text Corp (OTEX), with institutional investors hold 82.74% of the company’s shares. The shares outstanding are 259.65M, and float is at 253.03M with Short Float at 3.20%. Institutions hold 80.96% 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 5.0047 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 3.843 of the shares totaling 10.44 million with a market value of $313.48 million.
