Analysts Set Open Text Co. (NASDAQ:OTEX) Target Price at $46.25

Shares of Open Text Co. (NASDAQ:OTEX - Get Free Report) TSE: OTC have been given a consensus rating of "Moderate Buy" by the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $46.25.

A number of analysts have recently commented on OTEX shares. CIBC lifted their target price on Open Text from $42.00 to $44.00 and gave the stock a "neutral" rating in a research report on Thursday, January 11th. Jefferies Financial Group began coverage on shares of Open Text in a report on Tuesday, February 27th. They issued a "buy" rating and a $45.00 target price on the stock. Royal Bank of Canada reiterated an "outperform" rating and set a $53.00 price target on shares of Open Text in a research note on Friday, February 2nd. BMO Capital Markets lifted their price objective on shares of Open Text from $48.00 to $50.00 and gave the company an "outperform" rating in a research note on Friday, February 2nd. Finally, TD Securities raised their price target on Open Text from $53.00 to $54.00 and gave the stock a "buy" rating in a report on Friday, February 2nd.

Open Text Stock Down 0.2 %

OTEX traded down $0.06 on Friday, reaching $35.68. The company's stock had a trading volume of 434,966 shares, compared to its average volume of 600,606. The company has a market capitalization of $9.72 billion, a price-to-earnings ratio of 75.92 and a beta of 1.09. Open Text has a fifty-two week low of $32.04 and a fifty-two week high of $45.47. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 2.10. The stock has a 50 day moving average of $37.77 and a two-hundred day moving average of $38.73.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last issued its earnings results on Thursday, February 1st. The software maker reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.01. Open Text had a net margin of 2.24% and a return on equity of 22.99%. The business had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.48 billion. As a group, analysts forecast that Open Text will post 4.14 EPS for the current fiscal year.

Open Text Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Friday, March 1st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date was Thursday, February 29th. Open Text's dividend payout ratio is presently 212.77%.

Institutional Investors Weigh In On Open Text

Institutional investors have recently made changes to their positions in the stock. Optiver Holding B.V. acquired a new position in Open Text during the fourth quarter worth $27,000. IFP Advisors Inc raised its stake in shares of Open Text by 82.0% during the 3rd quarter. IFP Advisors Inc now owns 870 shares of the software maker's stock worth $31,000 after buying an additional 392 shares during the last quarter. Pacifica Partners Inc. purchased a new stake in shares of Open Text in the 4th quarter worth about $32,000. Allworth Financial LP grew its stake in Open Text by 125.7% in the 3rd quarter. Allworth Financial LP now owns 957 shares of the software maker's stock valued at $34,000 after acquiring an additional 533 shares during the last quarter. Finally, Impact Partnership Wealth LLC purchased a new position in Open Text during the 3rd quarter valued at about $37,000. 70.37% of the stock is currently owned by hedge funds and other institutional investors.

Open Text Company Profile

Open Text Corporation provides information management software and solutions. The company offers content services, which includes content collaboration and intelligent capture to records management, collaboration, e-signatures, and archiving; and operates experience cloud platform that provides customer experience and web content management, digital asset management, customer analytics, AI and insights, e-discovery, digital fax, omnichannel communications, secure messaging, and voice of customer, as well as customer journey, testing, and segmentation.