Open Text Co. (NASDAQ:OTEX) Receives $46.25 Consensus Price Target from Analysts

Shares of Open Text Co. (NASDAQ:OTEX) (TSE:OTC) have received an average recommendation of “Moderate Buy” from the eight brokerages that are covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $46.25.

Several research firms have recently weighed in on OTEX. BMO Capital Markets lifted their price objective on Open Text from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. StockNews.com upgraded Open Text from a “hold” rating to a “buy” rating in a report on Tuesday, February 6th. CIBC lifted their price objective on Open Text from $42.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, January 11th. Jefferies Financial Group assumed coverage on Open Text in a research note on Tuesday, February 27th. They issued a “buy” rating and a $45.00 target price on the stock. Finally, TD Securities boosted their target price on Open Text from $53.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, February 2nd.

Open Text Stock Performance

Shares of NASDAQ:OTEX opened at $35.68 on Friday. The business has a fifty day moving average of $37.77 and a 200-day moving average of $38.77. The company has a debt-to-equity ratio of 2.10, a quick ratio of 1.38 and a current ratio of 1.38. The firm has a market cap of $9.72 billion, a PE ratio of 75.91 and a beta of 1.09. Open Text has a twelve month low of $32.04 and a twelve month high of $45.47.

Open Text (NASDAQ:OTEX) (TSE:OTC) last announced its quarterly earnings data on Thursday, February 1st. The software maker reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.01. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.48 billion. Open Text had a return on equity of 22.99% and a net margin of 2.24%. On average, equities research analysts predict that Open Text will post 4.14 EPS for the current fiscal year.

Open Text Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Friday, March 1st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend was Thursday, February 29th. Open Text’s dividend payout ratio (DPR) is 212.77%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in OTEX. Optiver Holding B.V. acquired a new position in shares of Open Text during the 4th quarter worth approximately $27,000. IFP Advisors Inc increased its position in shares of Open Text by 82.0% during the 3rd quarter. IFP Advisors Inc now owns 870 shares of the software maker’s stock worth $31,000 after purchasing an additional 392 shares during the last quarter. Pacifica Partners Inc. acquired a new position in shares of Open Text during the 4th quarter worth approximately $32,000. Allworth Financial LP increased its position in shares of Open Text by 125.7% during the 3rd quarter. Allworth Financial LP now owns 957 shares of the software maker’s stock worth $34,000 after purchasing an additional 533 shares during the last quarter. Finally, Impact Partnership Wealth LLC acquired a new position in shares of Open Text during the 3rd quarter worth approximately $37,000. 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.