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.

Open Text (NASDAQ:OTEX) (TSE:OTC) last posted its earnings results on Thursday, August 2nd. The software maker reported $0.72 EPS for the quarter, topping the consensus estimate of $0.68 by $0.04. Open Text had a net margin of 8.60% and a return on equity of 8.09%. The business had revenue of $754.30 million for the quarter, compared to the consensus estimate of $732.02 million. During the same period last year, the company earned $0.60 EPS. The firm’s revenue was up 13.7% compared to the same quarter last year. On average, analysts expect that Open Text will post 0.74 earnings per share for the current fiscal year.

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.

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Analyst Recommendations for Open Text (NASDAQ:OTEX)

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