Open Text Co. (NASDAQ:OTEX) Given Consensus Recommendation of “Hold” by Analysts

Open Text Co. (NASDAQ:OTEXGet Free Report) (TSE:OTC) has been assigned a consensus rating of “Hold” from the seven brokerages that are currently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $46.71.

A number of equities analysts have recently issued reports on OTEX shares. BMO Capital Markets increased their price objective on shares of Open Text from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $53.00 target price on shares of Open Text in a report on Friday, February 2nd. Barclays boosted their price target on shares of Open Text from $40.00 to $44.00 and gave the company an “equal weight” rating in a research note on Friday, December 1st. Stifel Nicolaus reduced their price objective on shares of Open Text from $44.00 to $38.00 and set a “neutral” rating for the company in a report on Monday, October 16th. Finally, Citigroup boosted their target price on shares of Open Text from $38.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd.

Check Out Our Latest Research Report on OTEX

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Wetherby Asset Management Inc. grew its holdings in Open Text by 2.2% in the 1st quarter. Wetherby Asset Management Inc. now owns 12,622 shares of the software maker’s stock worth $487,000 after acquiring an additional 272 shares during the last quarter. Signaturefd LLC lifted its holdings in Open Text by 1.5% in the 2nd quarter. Signaturefd LLC now owns 19,850 shares of the software maker’s stock worth $825,000 after buying an additional 297 shares during the period. Boston Partners grew its position in shares of Open Text by 0.5% in the 4th quarter. Boston Partners now owns 60,137 shares of the software maker’s stock worth $2,527,000 after buying an additional 318 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Open Text by 18.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the software maker’s stock valued at $92,000 after buying an additional 334 shares during the period. Finally, IFP Advisors Inc increased its position in Open Text by 82.0% during the 3rd quarter. IFP Advisors Inc now owns 870 shares of the software maker’s stock valued at $31,000 after purchasing an additional 392 shares during the period. 64.53% of the stock is owned by institutional investors.

Open Text Price Performance

Shares of OTEX opened at $41.86 on Friday. The firm has a market cap of $11.39 billion, a PE ratio of 89.06 and a beta of 1.14. Open Text has a 52-week low of $32.04 and a 52-week high of $45.47. The business’s 50 day moving average price is $41.50 and its two-hundred day moving average price is $38.76. The company has a debt-to-equity ratio of 2.10, a quick ratio of 1.38 and a current ratio of 1.38.

Open Text Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 20th. Shareholders of record on Friday, March 1st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.39%. The ex-dividend date is Thursday, February 29th. Open Text’s dividend payout ratio is 212.77%.

About Open Text

(Get Free Report

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.

Further Reading

Analyst Recommendations for Open Text (NASDAQ:OTEX)

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