Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) had its target price raised by Barclays PLC from $54.00 to $55.00 in a note issued to investors on Friday, StockTargetPrices.com reports. Barclays PLC’s price target indicates a potential upside of 59.51% from the stock’s current price.

Other research analysts have also issued research reports about the company. TD Securities increased their price target on Open Text Corporation from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Friday. BidaskClub upgraded Open Text Corporation from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Zacks Investment Research upgraded Open Text Corporation from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 12th. Royal Bank Of Canada reiterated a “buy” rating and issued a $40.00 price target on shares of Open Text Corporation in a report on Wednesday, July 12th. Finally, Scotiabank reiterated an “outperform” rating and issued a $50.00 price target (up previously from $41.00) on shares of Open Text Corporation in a report on Friday, August 4th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Open Text Corporation has an average rating of “Buy” and an average target price of $41.56.

Shares of Open Text Corporation (OTEX) traded up $0.22 during trading hours on Friday, reaching $34.48. The company’s stock had a trading volume of 917,541 shares, compared to its average volume of 414,461. The firm has a market cap of $9.04 billion, a P/E ratio of 60.00 and a beta of 0.47.

Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) last announced its quarterly earnings results on Thursday, August 3rd. The software maker reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.07). The firm had revenue of $663.60 million during the quarter, compared to the consensus estimate of $662.36 million. Open Text Corporation had a return on equity of 6.56% and a net margin of 6.12%. The firm’s revenue was up 37.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.45 EPS. research analysts expect that Open Text Corporation will post 0.67 earnings per share for the current fiscal year.

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Several institutional investors have recently modified their holdings of OTEX. Wells Fargo & Company MN raised its stake in shares of Open Text Corporation by 91.9% in the first quarter. Wells Fargo & Company MN now owns 4,790 shares of the software maker’s stock worth $163,000 after purchasing an additional 2,294 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of Open Text Corporation by 103.8% in the first quarter. Alliancebernstein L.P. now owns 10,626 shares of the software maker’s stock worth $361,000 after purchasing an additional 5,413 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Open Text Corporation by 126.3% in the first quarter. Vanguard Group Inc. now owns 5,446,137 shares of the software maker’s stock worth $185,223,000 after purchasing an additional 3,039,282 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Open Text Corporation by 138.3% in the first quarter. Geode Capital Management LLC now owns 267,636 shares of the software maker’s stock worth $9,070,000 after purchasing an additional 155,340 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Open Text Corporation by 73.6% in the first quarter. Dimensional Fund Advisors LP now owns 63,071 shares of the software maker’s stock worth $2,145,000 after purchasing an additional 26,733 shares during the last quarter. 66.28% of the stock is owned by hedge funds and other institutional investors.

Open Text Corporation Company Profile

Open Text Corporation provides a platform and suite of software products and services that assist organizations in finding, utilizing, and sharing business information from any device. The Company designs, develops, markets and sells Enterprise Information Management (EIM) software and solutions. Its EIM offerings include Enterprise Content Management (ECM), Business Process Management (BPM), Customer Experience Management (CEM), Business Network, Discovery and Analytics.

Stock Target Prices

Analyst Recommendations for Open Text Corporation (NASDAQ:OTEX)

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