Open Text Corp (TSE:OTEX) (NASDAQ:OTEX)’s share price rose 0.2% during mid-day trading on Thursday . The company traded as high as C$41.90 and last traded at C$41.77. Approximately 173,833 shares were traded during trading, a decline of 56% from the average daily volume of 399,137 shares. The stock had previously closed at C$41.69.
Separately, Macquarie cut their target price on Open Text from C$43.00 to C$40.00 in a research report on Thursday, November 23rd. Six analysts have rated the stock with a buy rating, Open Text has a consensus rating of “Buy” and an average price target of C$43.57.
The stock has a market cap of $11,070.00, a PE ratio of 61.25 and a beta of 0.08.
The company also recently announced a quarterly dividend, which was paid on Wednesday, December 20th. Stockholders of record on Friday, December 1st were paid a dividend of $0.17 per share. This is a positive change from Open Text’s previous quarterly dividend of $0.13. This represents a $0.68 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend was Thursday, November 30th. Open Text’s dividend payout ratio is presently 67.67%.
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Open Text Company Profile
Open Text Corporation provides a suite of software products and services that assist organizations in finding, utilizing, and sharing business information from various devices. The company offers content solutions that provide content and records management, archiving, and email management and capture solutions, as well as Core, a software as a service based multi-tenant cloud solution; business process management for analyzing, automating, monitoring, and optimizing structured business processes; and customer experience management products, which offer Web content management, digital asset management, customer communications management, social software, and portal.
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