In a report released today, from TD Cowen initiated coverage with a Hold rating on Open Text and a price target of $40.00. The company’s shares closed yesterday at $37.66.
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In addition to TD Cowen, Open Text also received a Hold from TD Securities’s Daniel Chan in a report issued yesterday. However, on September 24, Scotiabank upgraded Open Text (NASDAQ: OTEX) to a Buy.
OTEX market cap is currently $9.58B and has a P/E ratio of 22.47.
Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of OTEX in relation to earlier this year.
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