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Carbonite inc stock11/24/2023 ![]() ![]() Open Text Corporation’s comprehensive suite of products positions it as a key player in meeting these evolving needs. As technological advancements accelerate across industries worldwide, companies increasingly recognize the importance of effective data management and cybersecurity measures. Given Open Text Corporation’s strong performance and ongoing innovations in information management software and solutions, it continues to attract attention from institutional investors like Canoe Financial LP. Conversely, its fifty-two week low was recorded at $24.91 per share during this period. The stock reached a fifty-two week high of $43.25 per share – an impressive milestone reflecting investor confidence in the company’s offerings and strategies. Notably, Open Text Co.’s journey over the past year has been marked by substantial growth. In terms of liquidity ratios, Open Text Co.’s quick ratio and current ratio both stand at 0.70, suggesting healthy short-term financial stability for the company. ![]() Furthermore, the company has a beta of 1.04, indicating that it is marginally more volatile than the average stock in the market. With a price-to-earnings ratio of 37.54, the stock is considered fairly valued relative to its earnings. Open Text Co.’s market capitalization is an impressive $11.27 billion, attesting to its prominence in the industry. Investors and analysts often use these moving averages to gauge the prevailing sentiment and momentum surrounding a stock. Likewise, its two-hundred-day simple moving average shows an upward trend, reaching $37.25 per share. Currently, Open Text Co.’s fifty-day simple moving average stands at $41.23 per share, highlighting stability in recent months. Despite this minor fluctuation in share price, Open Text Co.’s long-term trends have been positive.Īnalyzing the company’s simple moving averages over a longer timeframe offers valuable insights into its stock performance. It is worth noting that 158,835 shares were traded that day – relatively higher than the average daily volume of 597,804 shares. The stock reached a price of $41.61 per share, marking a decrease of $0.43 compared to previous trading sessions. In terms of financial performance, shares of Open Text Co., listed on the NASDAQ exchange under the ticker symbol OTEX, experienced marginal downward movement during trading on Friday. The company boasts an extensive product portfolio that includes Carbonite and Webroot products alongside its flagship OpenText Information Management software platform. ![]() Notably, it offers OpenText security solutions that cater to the ever-growing need for information cyber resilience. Open Text further specializes in digital investigation and forensic security solutions to combat online crimes effectively. Additionally, the company provides security and protection solutions to safeguard against cyber threats while also ensuring business continuity in case of a breach. ![]() These offerings help organizations manage data both within their own operations and outside their firewalls. The purchase included 107,815 shares of the software maker’s stock, valued at approximately $4,159,000.Īs an innovative company in the technology sector, Open Text Corporation is known for its cutting-edge content services and business network solutions. According to a 13F filing with the Securities and Exchange Commission (SEC), Canoe Financial LP, an institutional investor, acquired a significant position in Open Text Co. Open Text Corporation, a leading information management software and solutions provider, recently made headlines with its impressive first-quarter performance. ![]()
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