Weekly Investment Analysts’ Ratings Changes for Open Text (OTEX)

Several brokerages have updated their recommendations and price targets on shares of Open Text (NASDAQ: OTEX) in the last few weeks:

  • 2/7/2018 – Open Text was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $40.00 price target on the stock. According to Zacks, “Open Text Corporation is engaged in development of innovative intranet, extranet and e-Business applications. Since creating one of the first search engines to index the World Wide Web, the company has remained at the forefront of Internet-based technologies. Open Text solutions allow individuals, teams, organizations, and global trading communities to collaborate on projects, share ideas and accelerate innovation to the fastest possible speed. Open Text Corporation is headquartered in Waterloo, Canada. “
  • 2/1/2018 – Open Text had its price target raised by analysts at Raymond James Financial, Inc. from $40.00 to $44.00. They now have an “outperform” rating on the stock.
  • 2/1/2018 – Open Text had its price target raised by analysts at National Bank Financial from $45.00 to $50.00. They now have an “outperform” rating on the stock.
  • 2/1/2018 – Open Text had its “buy” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $46.00 price target on the stock, up previously from $40.00.
  • 2/1/2018 – Open Text had its price target raised by analysts at Barclays PLC from $44.00 to $46.00. They now have an “overweight” rating on the stock.
  • 2/1/2018 – Open Text had its “buy” rating reaffirmed by analysts at BMO Capital Markets. They now have a $42.00 price target on the stock.
  • 1/31/2018 – Open Text was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 1/9/2018 – Open Text was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 12/29/2017 – Open Text was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.

Open Text Corp (OTEX) traded up $0.12 during mid-day trading on Monday, hitting $34.43. The stock had a trading volume of 727,700 shares, compared to its average volume of 810,031. The firm has a market cap of $9,151.81, a P/E ratio of 48.49 and a beta of 0.35. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.66. Open Text Corp has a 1-year low of $30.88 and a 1-year high of $40.31.

Open Text (NASDAQ:OTEX) (TSE:OTC) last released its quarterly earnings data on Wednesday, January 31st. The software maker reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.13. The business had revenue of $734.40 million during the quarter, compared to the consensus estimate of $688.59 million. Open Text had a return on equity of 6.82% and a net margin of 7.20%. The business’s revenue for the quarter was up 35.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.54 EPS. equities analysts forecast that Open Text Corp will post 0.74 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Friday, March 2nd will be issued a dividend of $0.132 per share. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $0.53 dividend on an annualized basis and a dividend yield of 1.53%. Open Text’s payout ratio is 74.65%.

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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