Open Text (TSE:OTC) Cut to Hold at Royal Bank of Canada

Open Text (TSE:OTC) was downgraded by stock analysts at Royal Bank of Canada from a “moderate buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, Zacks.com reports.

Separately, National Bank Financial cut Open Text from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st.

Open Text Price Performance

Open Text (TSE:OTC) last released its earnings results on Thursday, August 1st. The company reported C$1.24 EPS for the quarter, missing analysts’ consensus estimates of C$1.28 by C($0.04). The company had revenue of C$1.86 billion for the quarter, compared to analyst estimates of C$1.93 billion.