Open Text Corp (OTEX) Receives $44.60 Average Target Price from Brokerages
Shares of Open Text Corp (NASDAQ:OTEX) (TSE:OTC) have received a consensus recommendation of “Buy” from the fourteen research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $44.60.
A number of research analysts have recently issued reports on OTEX shares. ValuEngine upgraded shares of Open Text from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. BidaskClub upgraded shares of Open Text from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 10th. TD Securities boosted their price target on shares of Open Text from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Friday, August 3rd. Industrial Alliance Securities boosted their price target on shares of Open Text from $40.00 to $42.00 in a research report on Friday, August 3rd. Finally, Raymond James boosted their price target on shares of Open Text from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, August 3rd.
NASDAQ:OTEX opened at $34.78 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.33 and a current ratio of 1.33. Open Text has a one year low of $32.05 and a one year high of $40.31. The company has a market cap of $10.20 billion, a P/E ratio of 38.22 and a beta of 0.27.
The company also recently declared a quarterly dividend, which was paid on Friday, September 21st. Stockholders of record on Friday, August 31st were given a $0.1518 dividend. The ex-dividend date was Thursday, August 30th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.75%. Open Text’s dividend payout ratio (DPR) is currently 67.03%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. AdvisorNet Financial Inc acquired a new position in shares of Open Text during the 2nd quarter valued at $115,000. Tower Research Capital LLC TRC acquired a new position in shares of Open Text during the 2nd quarter valued at $160,000. A.R.T. Advisors LLC acquired a new position in shares of Open Text during the 1st quarter valued at $236,000. Neuberger Berman Group LLC bought a new stake in Open Text during the 1st quarter valued at $241,000. Finally, GSA Capital Partners LLP bought a new stake in Open Text during the 1st quarter valued at $243,000. Hedge funds and other institutional investors own 67.61% of the company’s stock.
Open Text Company Profile
Open Text Corporation provides a suite of software products and services. The company offers content services; digital process automation, which enables organizations to transform into digital and data-driven businesses through automation; and discovery suite that provides forensics and unstructured data analytics for searching, collecting, and investigating enterprise data to manage legal obligations and risk.
See Also: What is a Call Option?
Receive News & Ratings for Open Text Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Open Text and related companies with MarketBeat.com's FREE daily email newsletter.