Open Text Co. (NASDAQ:OTEX) Receives $38.89 Average Target Price from Brokerages

Shares of Open Text Co. (NASDAQ:OTEX) (TSE:OTC) have earned an average rating of “Hold” from the eleven analysts that are presently covering the company, Marketbeat reports. Seven analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $38.89.

A number of equities research analysts have commented on the stock. Barclays dropped their price objective on shares of Open Text from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. National Bankshares downgraded shares of Open Text from an “outperform” rating to a “sector perform” rating and set a $38.00 price objective on the stock. in a research report on Friday, August 2nd. National Bank Financial downgraded shares of Open Text from an “outperform” rating to a “sector perform” rating in a research report on Friday, August 2nd. Citigroup increased their target price on shares of Open Text from $32.00 to $34.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Finally, BMO Capital Markets dropped their target price on shares of Open Text from $38.00 to $33.00 and set a “market perform” rating on the stock in a research report on Friday, August 2nd.

Open Text Trading Up 0.3 %

Shares of NASDAQ:OTEX opened at $34.03 on Friday. Open Text has a 52 week low of $27.50 and a 52 week high of $45.47. The company’s 50 day moving average is $32.52 and its two-hundred day moving average is $31.78. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.51. The company has a market cap of $9.18 billion, a PE ratio of 54.89 and a beta of 1.12.

Open Text (NASDAQ:OTEX) (TSE:OTC) last announced its quarterly earnings data on Thursday, August 1st. The software maker reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. Open Text had a net margin of 8.06% and a return on equity of 25.00%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the prior year, the firm posted $0.79 EPS. The company’s quarterly revenue was down 8.6% compared to the same quarter last year. Equities analysts predict that Open Text will post 3.23 earnings per share for the current fiscal year.

Open Text Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were given a $0.192 dividend. This represents a $0.77 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend was Friday, August 30th. Open Text’s dividend payout ratio (DPR) is 169.35%.

Institutional Trading of Open Text

Large investors have recently bought and sold shares of the business. Ridgewood Investments LLC acquired a new stake in Open Text during the 2nd quarter worth $30,000. Headlands Technologies LLC acquired a new stake in Open Text during the 1st quarter worth $32,000. Blue Trust Inc. boosted its stake in Open Text by 435.7% during the 3rd quarter. Blue Trust Inc. now owns 975 shares of the software maker’s stock worth $32,000 after purchasing an additional 793 shares during the period. Kimelman & Baird LLC acquired a new stake in Open Text during the 2nd quarter worth $36,000. Finally, UniSuper Management Pty Ltd boosted its stake in Open Text by 105.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 3,900 shares of the software maker’s stock worth $151,000 after purchasing an additional 2,000 shares during the period. Institutional investors and hedge funds own 70.37% of the company’s stock.

Open Text Company Profile

Open Text Corporation provides information management software and solutions. The company offers content services, which includes content collaboration and intelligent capture to records management, collaboration, e-signatures, and archiving; and operates experience cloud platform that provides customer experience and web content management, digital asset management, customer analytics, AI and insights, e-discovery, digital fax, omnichannel communications, secure messaging, and voice of customer, as well as customer journey, testing, and segmentation.