Open Text Corporation (NASDAQ:OTEX) (TSE:OTC)‘s stock had its “overweight” rating restated by equities research analysts at Mitsubishi UFJ Financial Group in a research report issued to clients and investors on Thursday.

A number of other analysts also recently weighed in on OTEX. Beacon Securities upgraded Open Text Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. 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 set a $40.00 price target on shares of Open Text Corporation in a report on Wednesday, July 12th. BidaskClub upgraded Open Text Corporation from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Finally, Scotiabank reiterated an “outperform” rating and set a $50.00 price target (up from $41.00) on shares of Open Text Corporation in a report on Friday, August 4th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $42.78.

Shares of Open Text Corporation (NASDAQ:OTEX) traded up $0.28 during trading on Thursday, reaching $34.48. The company’s stock had a trading volume of 917,541 shares, compared to its average volume of 437,080. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.89 and a current ratio of 0.89. Open Text Corporation has a 52-week low of $29.30 and a 52-week high of $35.45. The firm has a market cap of $9,150.00, a P/E ratio of 60.00 and a beta of 0.48.

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

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Several institutional investors and hedge funds have recently modified their holdings of OTEX. Vanguard Group Inc. grew its stake in shares of Open Text Corporation by 126.3% in the 1st quarter. Vanguard Group Inc. now owns 5,446,137 shares of the software maker’s stock valued at $185,223,000 after buying an additional 3,039,282 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Open Text Corporation by 67.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,068,128 shares of the software maker’s stock valued at $65,198,000 after buying an additional 832,902 shares during the period. Highstreet Asset Management Inc. grew its stake in shares of Open Text Corporation by 331.1% in the 2nd quarter. Highstreet Asset Management Inc. now owns 539,152 shares of the software maker’s stock valued at $17,026,000 after buying an additional 414,077 shares during the period. Fiera Capital Corp grew its stake in shares of Open Text Corporation by 15.9% in the 2nd quarter. Fiera Capital Corp now owns 3,007,953 shares of the software maker’s stock valued at $94,770,000 after buying an additional 411,920 shares during the period. Finally, Koch Industries Inc. grew its stake in shares of Open Text Corporation by 4,756.9% in the 2nd quarter. Koch Industries Inc. now owns 351,497 shares of the software maker’s stock valued at $341,000 after buying an additional 344,260 shares during the period. Institutional investors own 66.28% of the company’s stock.

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.

Analyst Recommendations for Open Text Corporation (NASDAQ:OTEX)

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