NASDAQ:OTEX

Open Text (OTEX) Stock Forecast, Price & News

$41.76

-1.42 (-3.29%)

(As of 06/7/2023 ET)

Compare

Today's Range: $41.73
▼
$43.25
50-Day Range: $36.56
▼
$43.18
52-Week Range: $24.91
▼
$43.25

Volume: 487,720 shs
Average Volume: 650,163 shs
Market Capitalization: $11.31 billion

P/E Ratio: 37.29
Dividend Yield: 2.32%
Price Target: $45.14

Open Text MarketRank™ Forecast

Analyst Rating: Moderate Buy
2.57 Rating Score
Upside/Downside: 8.1% Upside
$45.14 Price Target
Short Interest: Healthy
3.01% of Float Sold Short
Dividend Strength: Moderate
Based on Four Factors
Sustainability: -1.36
Upright™ Environmental Score
News Sentiment: 0.83
Based on 8 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: 42.03%
From $2.95 to $4.19 Per Share

Overall MarketRank^™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.42 out of 5 stars

Computer And Technology Sector

140th out of 597 stocks

Computer Integrated Systems Design Industry

9th out of 34 stocks

1.3

Analyst's Opinion

Consensus Rating
Open Text has received a consensus rating of Buy. The company's average rating score is 2.57, and is based on 4 buy ratings, 3 hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $45.14, Open Text has a forecasted upside of 8.1% from its current price of $41.76.
Amount of Analyst Coverage
Open Text has only been the subject of 2 research reports in the past 90 days.

3.0

Short Interest

Percentage of Shares Shorted
3.01% of the float of Open Text has been sold short.
Short Interest Ratio / Days to Cover
Open Text has a short interest ratio ("days to cover") of 12.6, which indicates bearish sentiment.
Change versus previous month
Short interest in Open Text has recently decreased by 10.55%, indicating that investor sentiment is improving significantly.

2.5

Dividend Strength

Dividend Yield
Open Text pays a meaningful dividend of 2.28%, higher than the bottom 25% of all stocks that pay dividends.
Dividend Growth
Open Text has been increasing its dividend for 9 years.
Dividend Coverage
The dividend payout ratio of Open Text is 86.61%. Payout ratios above 75% are not desirable because they may not be sustainable.
Dividend Sustainability
Based on earnings estimates, Open Text will have a dividend payout ratio of 23.15% next year. This indicates that Open Text will be able to sustain or increase its dividend.

2.9

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
Open Text has received a 24.10% net impact score from Upright. Open Text seems to create the most significant positive value in categories "Taxes", "Jobs", and "Distributing knowledge". The positive contribution in the "Distributing knowledge" impact category is mostly driven by its "Artificial intelligence consulting", "Software development process consulting", "Data science consulting", "IoT consulting", and "Software development consulting for governments" products. See details.
Environmental Sustainability
The Environmental Impact score for Open Text is -1.36.

3.2

News and Social Media Coverage

News Sentiment
Open Text has a news sentiment score of 0.83. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.49 average news sentiment score of Computer and Technology companies.
News Coverage This Week
MarketBeat has tracked 8 news articles for Open Text this week, compared to 3 articles on an average week.
Search Interest
Only 12 people have searched for OTEX on MarketBeat in the last 30 days. This is a decrease of -29% compared to the previous 30 days.
MarketBeat Follows
8 people have added Open Text to their MarketBeat watchlist in the last 30 days. This is an increase of 700% compared to the previous 30 days.

2.5

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Open Text insiders have not sold or bought any company stock.
Percentage Held by Insiders
10.58% of the stock of Open Text is held by insiders. A high percentage of insider ownership can be a sign of company health.
Percentage Held by Institutions
63.93% of the stock of Open Text is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

3.1

Earnings and Valuation

Earnings Growth
Earnings for Open Text are expected to grow by 42.03% in the coming year, from $2.95 to $4.19 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Open Text is 37.29, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 138.34.
Price to Earnings Ratio vs. Sector
The P/E ratio of Open Text is 37.29, which means that it is trading at a less expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 318.62.
Price to Book Value per Share Ratio
Open Text has a P/B Ratio of 2.79. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Open Text (NASDAQ:OTEX) Stock

Open Text Corp. engages in the design, development, marketing and sales of enterprise information management software and solutions. It includes customer experience management (CEM), digital process automation, business network, and enterprise content management, discovery, security, and artificial intelligence (AI) and analytics solutions. It also offers consulting, managed, and learning services. The company was founded on June 26, 1991 and is headquartered in Waterloo, Canada.

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OTEX Stock News Headlines

June 7, 2023 | americanbankingnews.com

Open Text (NASDAQ:OTEX) Hits New 12-Month High at $42.62

June 4, 2023 | americanbankingnews.com

Contrasting OMNIQ (NASDAQ:OMQS) & Open Text (NASDAQ:OTEX)

June 7, 2023 | Behind the Markets (Ad)

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June 1, 2023 | msn.com

Open Text (TSE:OTEX) Price Target Increased by 6.00% to 45.84

May 31, 2023 | msn.com

Open Text’s Cloud Kingdom: A SaaS Stock for the Long Haul?

May 30, 2023 | americanbankingnews.com

Open Text Co. Plans Quarterly Dividend of $0.24 (NASDAQ:OTEX)

May 26, 2023 | americanbankingnews.com

Open Text (NASDAQ:OTEX) Lifted to Buy at StockNews.com

May 19, 2023 | seekingalpha.com

Open Text: A Sleeper AI Stock That's Undervalued Even At Its 52-Week High

June 7, 2023 | Legacy Research (Affiliate) (Ad)

Sell Every Stock, Except ONE (Ticker Revealed)

We saw one of the longest bull markets in history, with the S&P surging well over 800% But now the chickens have come home to roost. However, Jeff Clark couldn’t care less because he ignores almost every single stock in the market.

May 18, 2023 | seekingalpha.com

Open Text: Leveraging Acquisitions For Stability And Growth

May 17, 2023 | finance.yahoo.com

Vertica by OpenText and Anritsu Sign New Deal for Next-Gen Architecture and 5G Network Capabilities

May 15, 2023 | finance.yahoo.com

Open Text Insiders Added US$46m Of Stock To Their Holdings \

May 15, 2023 | americanbankingnews.com

Brokerages Set Open Text Co. (NASDAQ:OTEX) Target Price at $45.14

May 15, 2023 | americanbankingnews.com

StockNews.com Downgrades Open Text (NASDAQ:OTEX) to Buy

May 9, 2023 | msn.com

Top Cybersecurity Stocks for May 2023

May 8, 2023 | marketwatch.com

Open Text Corp. stock rises Monday, still underperforms market

May 8, 2023 | americanbankingnews.com

Barclays Raises Open Text (NASDAQ:OTEX) Price Target to $43.00

May 8, 2023 | americanbankingnews.com

Open Text (NASDAQ:OTEX) Price Target Raised to $43.00 at Barclays

May 7, 2023 | americanbankingnews.com

Open Text (NASDAQ:OTEX) Sees Unusually-High Trading Volume After Analyst Upgrade

May 6, 2023 | americanbankingnews.com

Open Text (NASDAQ:OTEX) Price Target Raised to $52.00 at TD Securities

May 6, 2023 | americanbankingnews.com

Open Text (NASDAQ:OTEX) Upgraded to Strong-Buy by StockNews.com

May 6, 2023 | markets.businessinsider.com

RBC Capital Sticks to Their Buy Rating for Open Text (OTEX)

May 6, 2023 | msn.com

Open Text (OTEX) Declares $0.24 Dividend

May 5, 2023 | marketwatch.com

Open Text Corp. stock rises Friday, outperforms market

May 5, 2023 | seekingalpha.com

Open Text Corporation 2023 Q1 - Results - Earnings Call Presentation

May 4, 2023 | seekingalpha.com

Open Text Non-GAAP EPS of $0.73 beats by $0.27, revenue of $1.24B beats by $60M

May 4, 2023 | marketwatch.com

Open Text Corp. stock falls Thursday, underperforms market

See More Headlines

OTEX Price History

30 days | 90 days | 365 days | Advanced Chart

OTEX Company Calendar

Last Earnings: 11/04/2021
Ex-Dividend for 3/23 Dividend: 3/02/2023
Dividend Payable: 3/23/2023
Ex-Dividend for 6/23 Dividend: 6/01/2023
Today: 6/07/2023
Dividend Payable: 6/23/2023
Fiscal Year End: 6/30/2023
Next Earnings (Estimated): 8/03/2023

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Industry, Sector and Symbol

Stock Exchange: NASDAQ
Industry: Computer integrated systems design
Sub-Industry: N/A
Sector: Computer and Technology
Current Symbol: NASDAQ:OTEX
CUSIP: N/A
CIK: 1002638
Web: www.opentext.com
Phone: (519) 888-7111
Fax: 519-888-0677
Employees: 14,800
Year Founded: 1991

Price Target and Rating

Average Stock Price Forecast: $45.14
High Stock Price Forecast: $60.00
Low Stock Price Forecast: $34.00
Forecasted Upside/Downside: +6.9%
Consensus Rating: Moderate Buy
Rating Score (0-4): 2.57
Research Coverage: 7 Analysts

Profitability

EPS (Most Recent Fiscal Year): $1.12
Trailing P/E Ratio: 37.71
Forward P/E Ratio: 14.32
P/E Growth: N/A
Net Income: $397.09 million
Net Margins: 7.73%
Pretax Margin: 9.46%
Return on Equity: 19.13%
Return on Assets: 6.31%

Debt

Debt-to-Equity Ratio: 2.08
Current Ratio: 0.70
Quick Ratio: 0.70

Sales & Book Value

Annual Sales: $3.49 billion
Price / Sales: 3.27
Cash Flow: $4.89 per share
Price / Cash Flow: 8.63
Book Value: $14.96 per share
Price / Book: 2.82

Miscellaneous

Outstanding Shares: 270,750,000
Free Float: 242,103,000
Market Cap: $11.44 billion
Optionable: Optionable
Beta: 1.06

Social Links

Key Executives

Mark J. Barrenechea
Vice Chairman, Chief Executive Officer & CTO

Madhu Ranganathan
Chief Financial Officer & Executive Vice President

Renee Mckenzie
Chief Information Officer & Executive VP-IT

Muhi S. Majzoub
Chief Product Officer & Executive Vice President

Michael F. Acedo
Secretary, Chief Legal Officer & Executive VP

Key Competitors

View All Competitors

Institutional Ownership

View All Institutional Transactions

OTEX Stock - Frequently Asked Questions

Should I buy or sell Open Text stock right now?: 7 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Open Text in the last twelve months. There are currently 3 hold ratings and 4 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" OTEX shares.
View OTEX analyst ratings or view top-rated stocks.
What is Open Text's stock price forecast for 2023?: 7 equities research analysts have issued twelve-month target prices for Open Text's shares. Their OTEX share price forecasts range from $34.00 to $60.00. On average, they predict the company's stock price to reach $45.14 in the next twelve months. This suggests a possible upside of 6.9% from the stock's current price.
View analysts price targets for OTEX or view top-rated stocks among Wall Street analysts.
How have OTEX shares performed in 2023?: Open Text's stock was trading at $29.64 at the start of the year. Since then, OTEX stock has increased by 42.5% and is now trading at $42.24.
View the best growth stocks for 2023 here.
When is Open Text's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Thursday, August 3rd 2023.
View our OTEX earnings forecast.
How were Open Text's earnings last quarter?: Open Text Co. (NASDAQ:OTEX) announced its quarterly earnings results on Thursday, November, 4th. The software maker reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.03. The software maker had revenue of $832.31 million for the quarter, compared to the consensus estimate of $822.27 million. Open Text had a net margin of 7.73% and a trailing twelve-month return on equity of 19.13%. The firm's revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.86 earnings per share.
How often does Open Text pay dividends? What is the dividend yield for Open Text?: Open Text declared a quarterly dividend on Tuesday, May 2nd. Stockholders of record on Friday, June 2nd will be paid a dividend of $0.243 per share on Friday, June 23rd. This represents a $0.97 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Thursday, June 1st.
Read our dividend analysis for OTEX.
What ETFs hold Open Text's stock?: ETFs with the largest weight of Open Text (NASDAQ:OTEX) stock in their portfolio include iShares Expanded Tech-Software Sector ETF (IGV), ProShares Ultra Nasdaq Cloud Computing ETF (SKYU), iShares MSCI Intl Value Factor ETF (IVLU), iShares International Dividend Growth ETF (IGRO) and iShares MSCI Intl Size Factor ETF (ISZE).iShares Expanded Tech Sector ETF (IGM),
Is Open Text a good dividend stock?: Open Text (NASDAQ:OTEX) pays an annual dividend of $0.97 per share and currently has a dividend yield of 2.28%. The company has been increasing its dividend for 9 consecutive years, indicating the company has a new, but growing committment to grow its dividend. The dividend payout ratio is 86.61%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, OTEX will have a dividend payout ratio of 23.15% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for OTEX.

What is Mark J. Barrenechea's approval rating as Open Text's CEO?: 1,052 employees have rated Open Text Chief Executive Officer Mark J. Barrenechea on Glassdoor.com. Mark J. Barrenechea has an approval rating of 65% among the company's employees.
What other stocks do shareholders of Open Text own?: Based on aggregate information from My MarketBeat watchlists, some companies that other Open Text investors own include Intact Financial (IFC), Constellation Software (CSU), AutoCanada (ACQ), Alimentation Couche-Tard (ATD.B), AbbVie (ABBV), Vermilion Energy (VET), Rogers Communications (RCI), Valeant Pharmaceuticals International (VRX) and Toronto-Dominion Bank (TD).
What is Open Text's stock symbol?: Open Text trades on the NASDAQ under the ticker symbol "OTEX."
Who are Open Text's major shareholders?: Open Text's stock is owned by a variety of retail and institutional investors. Top institutional shareholders include Jarislowsky Fraser Ltd (6.21%), Harris Associates L P (5.38%), FMR LLC (3.46%), Mackenzie Financial Corp (2.71%), FIL Ltd (2.66%) and First Trust Advisors LP (2.61%).
How do I buy shares of Open Text?: Shares of OTEX stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.
What is Open Text's stock price today?: One share of OTEX stock can currently be purchased for approximately $42.24.
How much money does Open Text make?: Open Text (NASDAQ:OTEX) has a market capitalization of $11.44 billion and generates $3.49 billion in revenue each year. The software maker earns $397.09 million in net income (profit) each year or $1.12 on an earnings per share basis.
How many employees does Open Text have?: The company employs 14,800 workers across the globe.
Does Open Text have any subsidiaries?: The following companies are subsidiares of Open Text: 3304709 Nova Scotia Limited, 8493642 Canada Inc., ANX Holdings Inc., ANXe Business LLC, ANXeBusiness, Acquisition U.K. Limited, Actuate, Actuate (Deutschland) GmbH, Actuate Australia Pty Ltd, Actuate Canada Corporation, Actuate Cayman Ltd., Actuate Corporation, Actuate International Corporation, Actuate International Corporation French Branch, Actuate International Holding Company, Actuate International Sarl, Actuate Japan Company Ltd, Actuate Spain S.L, Actuate UK Limited, Antelope Holding Inc., B2B Commerce (M) SDN. BHD., Bluebird Systems, Burntsand, Captaris, Carbonite, Catalyst Japan LLC, Catalyst Repository Systems, Catalyst Repository Systems Inc., Centrinity, Cordys, Cordys (Beijing) Co. Ltd., Cordys Deutschland Service GmbH, Cordys Information Systems B.V. – China Representative Office, Cordys Israel Ltd., Cordys Shanghai Co. Ltd., Corechange, Covisint, Covisint Software Services (Shanghai) Co. Ltd., Daegis, Dell-EMC's enterprise content division, EC1 Pte Ltd, EasyLink Do Brasil Comunicacoes Ltda., EasyLink Services (France) S.A.R.L., EasyLink Services (Hong Kong) Limited, EasyLink Services Corporation India Private Limited, EasyLink Services International Corp, EasyLink Services International Limited, EasyLink Services K.K., EasyLink Services Korea Corporation, EasyLink Services USA Inc., Easylink Services International Corporation, Eloquent, GXS, GXS (ANZ) Pty Limited, GXS (HK) Limited, GXS (Shanghai) Software Development Limited, GXS AG, GXS B.V., GXS Canada Inc., GXS Co. Ltd, GXS GmbH, GXS Inc., GXS Inc., GXS India Technology Centre Private Limited, GXS International Inc - Hong Kong Branch, GXS International Inc - Netherlands Branch, GXS International Inc - Singapore Branch, GXS International Inc., GXS Limited, GXS Ltd, GXS S.A., GXS S.p.A, GXS SAS, GXS UK Holding Limited, GXS de Mexico S. de R.L. de C.V., Gauss Interprise, Global 360, Global 360 China Limited, Global 360 China Limited - Shanghai Representative Office, Global 360 Spain S.L., HP - Customer Communications Management (CCM) assets, HP Software, Habinger de Mexico S. de R.L. de C.V., Hightail, Hubspan Inc., Hummingbird Ltd, ICCM Professional Services, ICCM Professional Services Limited, IXOS Software AG, Information Dimensions, Informative Graphics Corporation, Legodo AG, Liaison Technologies, Liaison Technologies AB, Liaison Technologies B.V., Liaison Technologies Inc., Liaison Technologies Oy, Liaison Technologies Pte Ltd, Liaison Technologies UK, Metastorm, Metastorm Limited, Metastorm UK Limited, Microstar Software, Nstein Technologies, Nstein Technologies Inc., Open Text, Open Text (Asia) Pte Limited, Open Text (Hong Kong) Limited, Open Text (Philippines) Inc., Open Text A/S, Open Text AB, Open Text AG, Open Text BeLux Branch - Belgian Branch of Open Text Coöperatief U.A., Open Text Brasil Comercio De Software Ltda., Open Text Canada Ltd., Open Text Corporation India Private Limited, Open Text Coöperatief U.A., Open Text Digital Media Group, Open Text Document Technologies GmbH, Open Text Egypt LLC, Open Text GXS ULC, Open Text Holdings Inc., Open Text Inc., Open Text Ireland Limited, Open Text K.K., Open Text Korea Co. Ltd., Open Text LLC, Open Text Middle East - Branch of Open Text Inc in the United Arab Emirates, Open Text New Zealand Limited, Open Text OY, Open Text Pty Limited, Open Text Public Sector Solutions Inc., Open Text S. de R.L. de C.V., Open Text S.r.l., Open Text SA ULC (Nova Scotia), Open Text SARL, Open Text Saudi Arabia LLC, Open Text Software Austria GmbH, Open Text Software GmbH, Open Text Software S.L., Open Text Software S.L. - Sucursal em Portugal, Open Text Software S.L.U., Open Text Software Technology (Malaysia) Sdn Bhd, Open Text Software Technology (Shanghai) Co. Limited, Open Text Software Technology (Shanghai) Co. Ltd - Guangzhou Branch, Open Text Software Technology (Shanghai) Co. Ltd. - Beijing Branch, Open Text South Africa (Pty) Limited, Open Text Sp.z.o.o., Open Text Technologia Da Informacao (Brasil) Ltda., Open Text Technologies India Private Limited, Open Text Technology LLC, Open Text UK Limited, Open Text ULC, Open Text USA Inc., Open Text Venture Capital Investment Limited Partnership, Open Text s.r.o., OpenText Optimost, OpenText Security, Operitel, PSSoftware solutions, Recommind, Recommind Australia Pty Limited, Recommind Canada Ltd., Recommind GmbH, Recommind Inc., Recommind Limited, Resonate KT, Resonate KT Limited, Rocket Holdco Inc., SCS Computer Systems Pte. Limited, SER Group, Spicer Corporation, Stover Limited, StreamServe, StreamServe Development AB, StreamServe S.a.r.l. B.V., Sysgenics Limited, The EasyLink Services Corporation SDN. BHD., TotalDiscovery LLC, Vignette, Vignette India Private Limited, Vignette Partnership LP, Vizible, X-Hive Corporation B.V., XMedius, Xenos Output Technologies Inc., Xpedite Inc., Xpedite Systems (UK) Limited, Xpedite Systems AG, Xpedite Systems GmbH, Xpedite Systems Incorporated (Malaysia) SDN. BHD., Xpedite Systems LLC, Xpedite Systems Limited, Xpedite Systems Participations S.A.R.L., Xpedite Systems Pty Limited, Xpedite Systems S.r.l., Xpedite Systems SA, Xpedite Systems Spain SA, eMotion, and weComm.
Read More
How can I contact Open Text?: Open Text's mailing address is 275 FRANK TOMPA DRIVE, WATERLOO A6, N2L 0A1. The official website for the company is www.opentext.com. The software maker can be reached via phone at (519) 888-7111, via email at investors@opentext.com, or via fax at 519-888-0677.

This page (NASDAQ:OTEX) was last updated on 6/7/2023 by MarketBeat.com Staff

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