Wall Street analysts expect that Open Text Corp (NASDAQ:OTEX) (TSE:OTC) will report $679.59 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Open Text’s earnings, with the lowest sales estimate coming in at $664.18 million and the highest estimate coming in at $695.00 million. Open Text reported sales of $542.71 million during the same quarter last year, which indicates a positive year-over-year growth rate of 25.2%. The business is scheduled to issue its next quarterly earnings report on Thursday, February 1st.

On average, analysts expect that Open Text will report full year sales of $679.59 million for the current fiscal year, with estimates ranging from $2.63 billion to $2.85 billion. For the next financial year, analysts forecast that the company will post sales of $2.93 billion per share, with estimates ranging from $2.68 billion to $3.19 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Open Text.

A number of research firms recently issued reports on OTEX. CIBC lifted their price target on shares of Open Text from $41.00 to $42.00 in a research note on Friday, November 3rd. BidaskClub cut shares of Open Text from a “hold” rating to a “sell” rating in a research note on Tuesday, December 5th. TD Securities lifted their price target on shares of Open Text from $38.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Mitsubishi UFJ Financial Group reissued an “overweight” rating on shares of Open Text in a research note on Thursday, November 2nd. Finally, Raymond James Financial cut shares of Open Text to an “underperform” rating and set a $40.00 target price on the stock. in a research note on Wednesday, November 22nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. Open Text has an average rating of “Hold” and a consensus target price of $42.27.

Shares of Open Text (OTEX) opened at $34.31 on Friday. Open Text has a one year low of $30.88 and a one year high of $35.80. The stock has a market cap of $9,127.27, a price-to-earnings ratio of 60.19 and a beta of 0.44. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.67.

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 20th. Stockholders of record on Friday, December 1st were given a dividend of $0.132 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.53 annualized dividend and a dividend yield of 1.54%. Open Text’s payout ratio is 92.98%.

Hedge funds have recently made changes to their positions in the company. GSA Capital Partners LLP raised its holdings in Open Text by 119.2% in the 3rd quarter. GSA Capital Partners LLP now owns 136,427 shares of the software maker’s stock valued at $4,405,000 after buying an additional 74,202 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its holdings in Open Text by 12.9% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 19,857 shares of the software maker’s stock valued at $641,000 after buying an additional 2,265 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Open Text in the 3rd quarter valued at about $999,000. Oppenheimer Asset Management Inc. raised its holdings in Open Text by 18.9% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 18,014 shares of the software maker’s stock valued at $582,000 after buying an additional 2,868 shares during the period. Finally, Turtle Creek Asset Management Inc. raised its holdings in Open Text by 6.7% in the 3rd quarter. Turtle Creek Asset Management Inc. now owns 2,432,386 shares of the software maker’s stock valued at $78,542,000 after buying an additional 152,600 shares during the period. 66.73% of the stock is currently owned by hedge funds and other institutional investors.

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Open Text 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.

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