Open Text (TSE:OTEX) Shares Cross Above 50-Day Moving Average - Time to Sell?

Key Points

• Open Text's stock price exceeded its fifty-day moving average of C$43.46, reaching a high of C$51.90 before closing at C$51.57.
• The company recently announced a dividend increase to $0.275 per share, up from $0.17, resulting in an annualized dividend yield of 2.1%.
• In its latest quarterly earnings report, Open Text posted C$0.97 earnings per share, exceeding analysts' expectations of C$0.83 per share.

Open Text Co. (TSE:OTEX - Get Free Report) NASDAQ: OTEX's share price crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$43.46 and traded as high as C$51.90. Open Text shares last traded at C$51.57, with a volume of 1,289,633 shares traded.

Open Text Trading Down 1.3%

The firm has a market capitalization of C$12.95 billion, a PE ratio of 30.85, a PEG ratio of 1.35 and a beta of 0.87. The firm's fifty day moving average is C$43.71 and its two-hundred day moving average is C$39.82. The company has a debt-to-equity ratio of 157.46, a current ratio of 0.87 and a quick ratio of 1.34.

Open Text (TSE:OTEX - Get Free Report) NASDAQ: OTEX last released its quarterly earnings results on Thursday, August 7th. The company reported C$0.97 earnings per share for the quarter, topping the consensus estimate of C$0.83 by C$0.14. Open Text had a net margin of 12.21% and a return on equity of 15.83%. During the same quarter in the previous year, the firm earned $0.98 EPS. On average, equities analysts predict that Open Text Co. will post 4.9036649 EPS for the current fiscal year.

Open Text Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.2%. This is a boost from Open Text's previous quarterly dividend of $0.17. Open Text's payout ratio is presently 63.64%.

Open Text Company Profile

Open Text Corp grew out of a technology project involving the Oxford English Dictionary at Canada's University of Waterloo in the mid-1980s. Its software allows clients to archive, aggregate, retrieve, and search unstructured information (such as documents, e-mail, presentations). The company is based in Ontario, Canada.