Open Text Rises On Unusually High Volume (OTEX)

NEW YORK ( TheStreet) -- Open Text Corporation (Nasdaq: OTEX) is trading at unusually high volume Thursday with 1.7 million shares changing hands. It is currently at four times its average daily volume and trading up $2.21 (+4.2%) at $54.36 as of 3:28 p.m. ET.

Open Text has a market cap of $3 billion and is part of the technology sector and computer software & services industry. Shares are up 13.2% year to date as of the close of trading on Wednesday.

Open Text Corporation develops, markets, sells, licenses, and supports enterprise content management (ECM) solutions primarily in North America and Europe. The company has a P/E ratio of 24.7, equal to the average computer software & services industry P/E ratio and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Open Text as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, solid stock price performance and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Open Text Ratings Report.

See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.

Interested in other stocks that are rising on unusually high volume? Get free SMS text alerts sent to you when the action happens by texting HVUP to 95370 or select from multiple alert options.

null

More from Markets

Billionaire Investor Tim Draper Explains Why Bitcoin Will Hit $250,000 in 2022

Billionaire Investor Tim Draper Explains Why Bitcoin Will Hit $250,000 in 2022

To Think a Trade War's Still Just a Threat Is the Dumbest Thing on Wall Street

To Think a Trade War's Still Just a Threat Is the Dumbest Thing on Wall Street

M&A Trends Still on Investors' Minds Despite Worries Over Tariffs -- ICYMI

M&A Trends Still on Investors' Minds Despite Worries Over Tariffs -- ICYMI

Dow Falls as U.S. Imposes Tariffs on $50 Billion of Chinese Goods

Dow Falls as U.S. Imposes Tariffs on $50 Billion of Chinese Goods

General Motors Spikes on Report It's Considering Listing Shares of Cruise Unit

General Motors Spikes on Report It's Considering Listing Shares of Cruise Unit