Open Text (OTEX.TO) Trades Down Amid Market Volatility
Date: February 5, 2025
Market Update: Open Text (OTEX.TO) shares have declined by 0.94% over the past 24 hours, closing at CAD 41.95 on major exchanges. This development comes amidst a broader market trend, with other Canadian stocks experiencing varying degrees of movement.
Market Capitalization and Trading Volume: As of the latest available data, Open Text’s market capitalization stands at CAD 11.1 billion, with approximately CAD 28.4 million worth of shares traded in the last 24 hours. The company’s current supply of stocks is 261.8 million.
Recent Performance: Over the past month, Open Text has seen a 1.59% increase in value, with its simple moving average over the past 200 days standing at CAD 42.55. The stock’s highest price over the past 52 weeks was recorded at CAD 56.75 on February 9, 2024, while its 52-week low was at CAD 37.92 on June 4, 2024.
Industry Peers: Other notable Canadian stocks have also experienced significant movements in the past 24 hours:
- CAE (CAE.TO): Traded down 0.77% to CAD 33.35, with a market capitalization of CAD 10.7 billion. CAE has been recognized as a Top Employer in Canada and has been included in Forbes’ Canada’s Best Employers 2025 List.
- Stantec (STN.TO): Traded down 4.42% to CAD 108, with a market capitalization of CAD 12.5 billion. Stantec has a current price-to-earnings ratio of 35.36.
- Atkinsrealis (ATRL.TO): Traded up 0.5% to CAD 72.08, with a market capitalization of CAD 12.7 billion. Atkinsrealis has reached a 52-week high of CAD 83.94 and has a current price-to-earnings ratio of 39.34.
- Magna (MG.TO): Traded flat at CAD 54.02, with a market capitalization of CAD 12.5 billion. Magna has a current price-to-earnings ratio of 11.11.
- Ccl Industries (CCL.B.TO): Traded up 0.17% to CAD 71.13, with a market capitalization of CAD 12.7 billion. Ccl Industries has a current price-to-earnings ratio of 17.8.
Company Overview: Open Text Corporation is a leading provider of intranet, extranet, and corporate portal solutions to organizations globally. The company offers a versatile solution that enables the management and analysis of both structured and unstructured data, providing machine-assisted decision making, automation, and business optimization.
Investors’ Take: The recent market movements and performance of Open Text and its industry peers will be crucial in determining the future trajectory of these stocks. As the market continues to evolve, investors will be closely watching the developments in the Canadian stock market.