Open Text (NASDAQ:OTEX) Issues Quarterly Earnings Results

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC announced its quarterly earnings data on Thursday. The software maker reported $1.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.10, Zacks reports. Open Text had a net margin of 12.21% and a return on equity of 23.33%.

Open Text Trading Up 3.7 %

NASDAQ OTEX traded up $1.03 during trading hours on Monday, reaching $28.89. The company's stock had a trading volume of 1,267,351 shares, compared to its average volume of 652,290. The firm has a fifty day simple moving average of $28.85 and a 200-day simple moving average of $30.61. The stock has a market cap of $7.62 billion, a P/E ratio of 11.74 and a beta of 1.12. Open Text has a 52 week low of $26.84 and a 52 week high of $41.96. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.79 and a quick ratio of 0.79.

Open Text Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be issued a $0.2625 dividend. This represents a $1.05 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date is Friday, March 7th. This is a positive change from Open Text's previous quarterly dividend of $0.26. Open Text's dividend payout ratio (DPR) is 42.68%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on OTEX shares. Citigroup increased their price objective on shares of Open Text from $30.00 to $32.00 and gave the stock a "neutral" rating in a research note on Friday. Scotiabank reduced their price objective on shares of Open Text from $40.00 to $35.00 and set a "sector perform" rating on the stock in a research note on Friday, November 1st. UBS Group started coverage on shares of Open Text in a research note on Tuesday, December 17th. They set a "neutral" rating and a $32.00 price objective on the stock. BMO Capital Markets reduced their price objective on shares of Open Text from $33.00 to $32.00 and set a "market perform" rating on the stock in a research note on Friday, November 1st. Finally, Barclays increased their target price on shares of Open Text from $34.00 to $36.00 and gave the stock an "equal weight" rating in a report on Friday. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, Open Text currently has a consensus rating of "Hold" and an average price target of $35.18.

About Open Text

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.