Shares of Open Text Corp. (NASDAQ:OTEX) saw unusually-strong trading volume on Thursday . Approximately 181,681 shares were traded during trading, an increase of 24% from the previous session’s volume of 146,163 shares.The stock last traded at $63.06 and had previously closed at $62.82.

Several equities analysts have weighed in on OTEX shares. Credit Suisse Group AG restated a “hold” rating and set a $49.00 price objective on shares of Open Text Corp. in a research note on Friday, May 13th. Royal Bank Of Canada reiterated an “outperform” rating and set a $77.50 target price (up from $74.00) on shares of Open Text Corp. in a research note on Tuesday, May 17th. Benchmark Co. lifted their target price on Open Text Corp. from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. TD Securities reiterated a “buy” rating and set a $63.00 target price (up from $60.00) on shares of Open Text Corp. in a research note on Tuesday, May 17th. Finally, Zacks Investment Research upgraded Open Text Corp. from a “hold” rating to a “strong-buy” rating and set a $72.00 target price on the stock in a research note on Thursday, July 21st. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Open Text Corp. presently has an average rating of “Buy” and a consensus target price of $60.75.

The stock has a market capitalization of $7.71 billion and a P/E ratio of 27.39. The firm has a 50 day moving average of $62.15 and a 200 day moving average of $56.62.

Open Text Corp. (NASDAQ:OTEX) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.89 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by $0.05. The company earned $484 million during the quarter, compared to the consensus estimate of $482.67 million. During the same quarter last year, the firm posted $0.87 earnings per share. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. On average, equities research analysts forecast that Open Text Corp. will post $4.09 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Friday, August 26th will be paid a $0.23 dividend. The ex-dividend date is Wednesday, August 24th. This represents a $0.92 annualized dividend and a yield of 1.44%.

An institutional investor recently raised its position in Open Text Corp. stock. Dimensional Fund Advisors LP increased its position in Open Text Corp. (NASDAQ:OTEX) by 3.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,730 shares of the company’s stock after buying an additional 1,100 shares during the period. Dimensional Fund Advisors LP’s holdings in Open Text Corp. were worth $1,473,000 at the end of the most recent reporting period.

Open Text Corporation is a Canada-based company operating in enterprise information market (EIM). The Company provides software products and services to organizations in finding, utilizing and sharing business information. The Company’s products and services include enterprise content management (ECM), business process management (BPM), customer experience management (CEM), information exchange (iX), discovery, and analytics and reporting.

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