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

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Several analysts have recently updated their ratings and price targets for Open Text (NASDAQ: OTEX):

  • 8/6/2018 – Open Text had its price target raised by analysts at Barclays PLC from $46.00 to $48.00. They now have an “overweight” rating on the stock.
  • 8/3/2018 – Open Text had its price target raised by analysts at Royal Bank of Canada from $44.00 to $45.00. They now have an “outperform” rating on the stock.
  • 8/3/2018 – Open Text had its price target raised by analysts at Raymond James from $42.00 to $48.00. They now have an “outperform” rating on the stock.
  • 8/3/2018 – Open Text had its “buy” rating reaffirmed by analysts at Scotiabank. They now have a $46.00 price target on the stock.
  • 8/3/2018 – Open Text had its price target raised by analysts at TD Securities from $40.00 to $43.00. They now have a “buy” rating on the stock.
  • 8/3/2018 – Open Text had its price target raised by analysts at Industrial Alliance Securities from $40.00 to $42.00.
  • 7/10/2018 – Open Text was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 7/2/2018 – Open Text was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.

Shares of NASDAQ:OTEX opened at $38.83 on Monday. Open Text Corp has a one year low of $31.21 and a one year high of $40.31. The firm has a market cap of $10.43 billion, a PE ratio of 42.67 and a beta of 0.30. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.33 and a quick ratio of 1.33.

Open Text (NASDAQ:OTEX) (TSE:OTC) last announced its quarterly earnings data on Thursday, August 2nd. The software maker reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. Open Text had a return on equity of 8.09% and a net margin of 8.60%. The company had revenue of $754.30 million during the quarter, compared to the consensus estimate of $732.02 million. During the same quarter in the prior year, the firm earned $0.60 EPS. The company’s quarterly revenue was up 13.7% compared to the same quarter last year. equities research analysts expect that Open Text Corp will post 0.8 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 21st. Stockholders of record on Friday, August 31st will be given a dividend of $0.1518 per share. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.56%. Open Text’s dividend payout ratio (DPR) is presently 67.03%.

Large investors have recently made changes to their positions in the company. Guggenheim Capital LLC raised its stake in Open Text by 34.5% during the 4th quarter. Guggenheim Capital LLC now owns 39,792 shares of the software maker’s stock valued at $1,419,000 after purchasing an additional 10,204 shares during the period. Wells Fargo & Company MN raised its stake in Open Text by 4.2% during the 1st quarter. Wells Fargo & Company MN now owns 99,321 shares of the software maker’s stock valued at $3,456,000 after purchasing an additional 4,003 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new stake in Open Text during the 1st quarter valued at $1,599,000. Greystone Managed Investments Inc. raised its stake in Open Text by 108.2% during the 1st quarter. Greystone Managed Investments Inc. now owns 1,109,869 shares of the software maker’s stock valued at $38,584,000 after purchasing an additional 576,822 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in Open Text by 1.2% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 805,554 shares of the software maker’s stock valued at $27,984,000 after purchasing an additional 9,551 shares during the period. Institutional investors own 67.56% of the company’s stock.

Open Text Corporation provides a suite of software products and services that assist organizations in finding, utilizing, and sharing business information from various devices. The company offers content solutions that provide content and records management, archiving, and email management and capture solutions, as well as Core, a software as a service based multi-tenant cloud solution; business process management for analyzing, automating, monitoring, and optimizing structured business processes; and customer experience management products, which offer Web content management, digital asset management, customer communications management, social software, and portal.

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