Shares of Open Text Corp (NASDAQ:OTEX) (TSE:OTC) have been assigned an average recommendation of “Buy” from the twelve research firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $44.25.
A number of analysts have issued reports on OTEX shares. BidaskClub lowered shares of Open Text from a “buy” rating to a “hold” rating in a research note on Friday, September 21st. Raymond James reiterated an “outperform” rating and set a $48.00 price target on shares of Open Text in a research note on Monday, October 22nd. Barclays boosted their price target on shares of Open Text from $46.00 to $48.00 and gave the stock an “overweight” rating in a research note on Monday, August 6th. Scotiabank reiterated a “buy” rating and set a $46.00 price target on shares of Open Text in a research note on Friday, August 3rd. Finally, TD Securities boosted their price target on shares of Open Text from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday, August 3rd.
A number of large investors have recently modified their holdings of OTEX. AdvisorNet Financial Inc purchased a new stake in shares of Open Text during the second quarter worth approximately $115,000. Tower Research Capital LLC TRC purchased a new stake in shares of Open Text during the second quarter worth approximately $160,000. Financial Gravity Wealth Inc. increased its stake in shares of Open Text by 128.5% during the third quarter. Financial Gravity Wealth Inc. now owns 6,150 shares of the software maker’s stock worth $201,000 after buying an additional 3,458 shares during the period. A.R.T. Advisors LLC purchased a new stake in shares of Open Text during the first quarter worth approximately $236,000. Finally, Greenleaf Trust increased its stake in shares of Open Text by 79.0% during the second quarter. Greenleaf Trust now owns 7,045 shares of the software maker’s stock worth $248,000 after buying an additional 3,110 shares during the period. Institutional investors own 67.61% of the company’s stock.
OTEX traded down $0.81 on Friday, hitting $33.16. The company had a trading volume of 580,271 shares, compared to its average volume of 479,588. The firm has a market cap of $8.90 billion, a P/E ratio of 36.44 and a beta of 0.46. Open Text has a 1 year low of $31.98 and a 1 year high of $40.31. The company has a current ratio of 1.51, a quick ratio of 1.33 and a debt-to-equity ratio of 0.70.
Open Text (NASDAQ:OTEX) (TSE:OTC) last issued its quarterly earnings data on Wednesday, October 31st. The software maker reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.01. The firm had revenue of $667.20 million for the quarter, compared to analyst estimates of $692.53 million. Open Text had a net margin of 8.51% and a return on equity of 7.99%. Open Text’s revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.54 EPS. Equities research analysts forecast that Open Text will post 0.74 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 20th. Shareholders of record on Friday, November 30th will be paid a dividend of $0.1518 per share. The ex-dividend date is Thursday, November 29th. This represents a $0.61 dividend on an annualized basis and a yield of 1.83%. Open Text’s dividend payout ratio (DPR) is presently 67.03%.
Open Text Company Profile
Open Text Corporation provides a suite of software products and services. The company offers content services; digital process automation, which enables organizations to transform into digital and data-driven businesses through automation; and discovery suite that provides forensics and unstructured data analytics for searching, collecting, and investigating enterprise data to manage legal obligations and risk.
Featured Story: What is Considered a Good Return on Equity (ROE)?
Receive News & Ratings for Open Text Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Open Text and related companies with MarketBeat.com's FREE daily email newsletter.