Open Text (OTEX) Upgraded to “Hold” by BidaskClub
Open Text (NASDAQ:OTEX) (TSE:OTC) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Thursday.
A number of other research firms have also weighed in on OTEX. Raymond James Financial lowered shares of Open Text to an “underperform” rating and set a $40.00 target price on the stock. in a report on Wednesday, November 22nd. BMO Capital Markets restated a “buy” rating and issued a $42.00 target price on shares of Open Text in a report on Thursday, February 1st. Macquarie lowered their target price on shares of Open Text from $43.00 to $40.00 in a report on Thursday, November 23rd. Barclays upped their target price on shares of Open Text from $44.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Finally, National Bank Financial upped their target price on shares of Open Text from $45.00 to $50.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $44.18.
Shares of Open Text (NASDAQ OTEX) opened at $36.46 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.86 and a quick ratio of 0.86. Open Text has a fifty-two week low of $30.88 and a fifty-two week high of $40.31. The firm has a market cap of $9,690.00, a PE ratio of 51.35 and a beta of 0.33.
A number of large investors have recently bought and sold shares of the business. Elkfork Partners LLC purchased a new stake in Open Text in the 4th quarter valued at about $193,000. Letko Brosseau & Associates Inc. purchased a new stake in Open Text in the 4th quarter valued at about $1,329,000. OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in Open Text by 83.9% in the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 11,400 shares of the software maker’s stock valued at $407,000 after buying an additional 5,200 shares during the last quarter. Gotham Asset Management LLC increased its stake in Open Text by 70.4% in the 4th quarter. Gotham Asset Management LLC now owns 124,718 shares of the software maker’s stock valued at $4,449,000 after buying an additional 51,532 shares during the last quarter. Finally, Paloma Partners Management Co increased its stake in Open Text by 762.9% in the 4th quarter. Paloma Partners Management Co now owns 155,608 shares of the software maker’s stock valued at $5,551,000 after buying an additional 137,575 shares during the last quarter. Hedge funds and other institutional investors own 73.02% of the company’s stock.
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About Open Text
Open Text Corporation provides a platform and suite of software products and services that assist organizations in finding, utilizing, and sharing business information from any device. The Company designs, develops, markets and sells Enterprise Information Management (EIM) software and solutions. Its EIM offerings include Enterprise Content Management (ECM), Business Process Management (BPM), Customer Experience Management (CEM), Business Network, Discovery and Analytics.
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