The Executive Vice-President – Operations of Open Text (NASDAQ: OTEX) is Selling Shares

By Carrie Williams

Yesterday, the Executive Vice-President – Operations of Open Text (OTEXResearch Report), Christopher James Mcgourlay, sold shares of OTEX for $34.95K.

In addition to Christopher James Mcgourlay, 9 other OTEX executives reported Sell trades in the last month.

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Based on Open Text’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $804 million and quarterly net profit of $103 million. In comparison, last year the company earned revenue of $697 million and had a net profit of $74.4 million. The company has a one-year high of $47.85 and a one-year low of $29.12. Currently, Open Text has an average volume of 813.22K.

Based on 4 analyst ratings, the analyst consensus is Strong Buy with an average price target of $48.00, reflecting a -11.4% downside.

The insider sentiment on Open Text has been negative according to 58 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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Open Text Corp. engages in the design, development, marketing and sales of enterprise information management software and solutions. It includes customer experience management (CEM), digital process automation, business network, and enterprise content management, discovery, security, and artificial intelligence (AI) and analytics solutions. It also offers consulting, managed, and learning services. The company was founded on June 26, 1991 and is headquartered in Waterloo, Canada.