Open Text Corp. (NASDAQ:OTEX) reached a new 52-week high during trading on Friday . The company traded as high as $64.17 and last traded at $63.67, with a volume of 55,364 shares trading hands. The stock had previously closed at $63.13.

A number of research firms recently commented on OTEX. Benchmark Co. increased their target price on shares of Open Text Corp. from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. Zacks Investment Research raised shares of Open Text Corp. from a “hold” rating to a “strong-buy” rating and set a $72.00 target price for the company in a research report on Thursday, July 21st. Royal Bank Of Canada increased their target price on shares of Open Text Corp. from $60.00 to $70.00 and gave the company an “outperform” rating in a research report on Tuesday, June 21st. CIBC raised shares of Open Text Corp. from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, May 25th. Finally, TD Securities reissued a “buy” rating and set a $63.00 target price (up previously from $60.00) on shares of Open Text Corp. in a research report on Tuesday, May 17th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $60.75.

The company has a market cap of $7.71 billion and a price-to-earnings ratio of 27.39. The stock’s 50-day moving average price is $62.15 and its 200 day moving average price is $56.62.

Open Text Corp. (NASDAQ:OTEX) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by $0.05. The company had revenue of $484 million for the quarter, compared to analysts’ expectations of $482.67 million. The business’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the prior year, the business earned $0.87 EPS. Equities research analysts expect that Open Text Corp. will post $4.09 earnings per share for the current fiscal year.

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

An institutional investor recently raised its position in Open Text Corp. stock. Dimensional Fund Advisors LP raised its position in shares of Open Text Corp. (NASDAQ:OTEX) by 3.7% during the fourth quarter, according to its most recent disclosure 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 as of its most recent SEC filing.

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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