Shares of Open Text Corp. (NASDAQ:OTEX) have been assigned a consensus rating of “Buy” from the nine research firms that are covering the stock. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $67.00.

A number of equities analysts have weighed in on OTEX shares. CIBC raised shares of Open Text Corp. from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, May 25th. Royal Bank Of Canada increased their price target on shares of Open Text Corp. from $60.00 to $70.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 21st. Zacks Investment Research raised shares of Open Text Corp. from a “hold” rating to a “strong-buy” rating and set a $72.00 price target on the stock in a research note on Thursday, July 21st. Benchmark Co. increased their price target on shares of Open Text Corp. from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. Finally, Dundee Securities raised shares of Open Text Corp. from a “neutral” rating to a “buy” rating in a research note on Monday, September 12th.

Institutional investors have recently modified their holdings of the stock. Royal Bank of Canada increased its position in shares of Open Text Corp. by 27.1% in the second quarter. Royal Bank of Canada now owns 3,050,665 shares of the company’s stock worth $180,478,000 after buying an additional 650,955 shares in the last quarter. Hillsdale Investment Management Inc. increased its position in shares of Open Text Corp. by 24.8% in the second quarter. Hillsdale Investment Management Inc. now owns 15,720 shares of the company’s stock worth $929,000 after buying an additional 3,120 shares in the last quarter. Legal & General Group Plc increased its position in shares of Open Text Corp. by 31.1% in the second quarter. Legal & General Group Plc now owns 101,029 shares of the company’s stock worth $5,943,000 after buying an additional 23,943 shares in the last quarter. Numeric Investors LLC acquired a new position in shares of Open Text Corp. during the second quarter worth approximately $2,323,000. Finally, AHL Partners LLP increased its position in shares of Open Text Corp. by 346.8% in the second quarter. AHL Partners LLP now owns 48,265 shares of the company’s stock worth $2,855,000 after buying an additional 37,462 shares in the last quarter. 69.41% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Open Text Corp. (NASDAQ:OTEX) traded up 0.67% during trading on Wednesday, hitting $65.85. 115,782 shares of the company were exchanged. The stock has a market cap of $7.95 billion, a P/E ratio of 28.26 and a beta of 0.99. Open Text Corp. has a 12 month low of $41.93 and a 12 month high of $66.67. The company’s 50-day moving average price is $63.07 and its 200 day moving average price is $57.94.

Open Text Corp. (NASDAQ:OTEX) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by $0.05. The firm had revenue of $484 million for the quarter, compared to analysts’ expectations of $482.67 million. Open Text Corp. had a net margin of 15.59% and a return on equity of 21.84%. The business’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the company posted $0.87 EPS. On average, equities analysts predict that Open Text Corp. will post $4.08 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, August 26th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend was Wednesday, August 24th. Open Text Corp.’s dividend payout ratio is presently 39.32%.

Open Text Corp. Company Profile

Open Text Corporation is a Canada-based company operating in enterprise information market (EIM). The Company provides software products and services to organizations in finding, utilizing and sharing business information. The Company’s products and services include enterprise content management (ECM), business process management (BPM), customer experience management (CEM), information exchange (iX), discovery, and analytics and reporting.

5 Day Chart for NASDAQ:OTEX

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