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

A number of firms have modified their ratings and price targets on shares of Open Text (NASDAQ: OTEX) recently:

• 12/25/2024 – Open Text was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 12/24/2024 – Open Text had its price target lowered by analysts at TD Securities from $40.00 to $38.00. They now have a “buy” rating on the stock.
• 12/17/2024 – Open Text was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 12/17/2024 – Open Text is now covered by analysts at UBS Group AG. They set a “neutral” rating and a $32.00 price target on the stock.
• 11/1/2024 – Open Text had its price target lowered by analysts at Scotiabank from $40.00 to $35.00. They now have a “sector perform” rating on the stock.
• 11/1/2024 – Open Text was downgraded by analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating. They now have a $33.00 price target on the stock, down previously from $45.00.
• 11/1/2024 – Open Text had its price target lowered by analysts at Citigroup Inc. from $34.00 to $33.00. They now have a “neutral” rating on the stock.
• 11/1/2024 – Open Text had its price target lowered by analysts at BMO Capital Markets from $33.00 to $32.00. They now have a “market perform” rating on the stock.
• 11/1/2024 – Open Text had its price target lowered by analysts at Barclays PLC from $36.00 to $34.00. They now have an “equal weight” rating on the stock.
• 11/1/2024 – Open Text had its price target lowered by analysts at TD Securities from $40.00 to $38.00. They now have a “buy” rating on the stock.

Open Text Stock Performance

OTEX opened at $28.01 on Wednesday. The company has a market cap of $7.45 billion, a price-to-earnings ratio of 16.19 and a beta of 1.11. The company’s fifty day moving average price is $30.52 and its two-hundred day moving average price is $31.01. Open Text Co. has a 1-year low of $27.05 and a 1-year high of $45.47. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.54.

Open Text (NASDAQ:OTEX) (TSE:OTC) last announced its quarterly earnings results on Thursday, October 31st. The software maker reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.13. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Open Text had a net margin of 8.35% and a return on equity of 24.34%. The firm’s revenue for the quarter was down 11.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.90 EPS. On average, analysts expect that Open Text Co. will post 3.37 EPS for the current fiscal year.

Open Text Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 29th were paid a dividend of $0.262 per share. The ex-dividend date of this dividend was Friday, November 29th. This is a boost from Open Text’s previous quarterly dividend of $0.19. This represents a $1.05 annualized dividend and a yield of 3.74%. Open Text’s dividend payout ratio (DPR) is 60.69%.

Institutional Trading of Open Text

Institutional investors have recently made changes to their positions in the company. AustralianSuper Pty Ltd purchased a new position in Open Text during the third quarter worth about $8,011,000. The Manufacturers Life Insurance Company boosted its stake in shares of Open Text by 1.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,642,455 shares of the software maker’s stock worth $187,952,000 after buying an additional 63,620 shares during the last quarter. Natixis Advisors LLC bought a new position in shares of Open Text in the third quarter valued at approximately $1,467,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Open Text by 126.1% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 86,260 shares of the software maker’s stock valued at $2,871,000 after acquiring an additional 48,111 shares during the last quarter. Finally, Stifel Financial Corp bought a new stake in Open Text during the third quarter worth $2,232,000. Institutional investors own 70.37% of the company’s stock.

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.