Barclays Issues Positive Forecast for Open Text (NASDAQ:OTEX) Stock Price

Open Text (NASDAQ:OTEX - Free Report) TSE: OTC had its price target hoisted by Barclays from $34.00 to $36.00 in a research report released on Friday,Benzinga reports. Barclays currently has an equal weight rating on the software maker's stock.

OTEX has been the subject of a number of other research reports. UBS Group began coverage on shares of Open Text in a research report on Tuesday, December 17th. They issued a "neutral" rating and a $32.00 target price for the company. StockNews.com cut shares of Open Text from a "strong-buy" rating to a "buy" rating in a research report on Monday, January 27th. Scotiabank reduced their target price on shares of Open Text from $40.00 to $35.00 and set a "sector perform" rating for the company in a research report on Friday, November 1st. Royal Bank of Canada reduced their target price on shares of Open Text from $33.00 to $31.00 and set a "sector perform" rating for the company in a research report on Friday. Finally, TD Securities reduced their target price on shares of Open Text from $40.00 to $38.00 and set a "buy" rating for the company in a research report on Monday, February 3rd. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $35.18.

Open Text Stock Down 0.8 %

OTEX traded down $0.23 during trading on Friday, reaching $28.66. 894,252 shares of the stock were exchanged, compared to its average volume of 661,250. The stock has a market cap of $7.56 billion, a P/E ratio of 11.65 and a beta of 1.12. Open Text has a twelve month low of $26.84 and a twelve month high of $41.96. The stock's 50 day moving average price is $28.82 and its two-hundred day moving average price is $30.60. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.79 and a current ratio of 0.79.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last released its quarterly earnings data on Thursday, February 6th. The software maker reported $1.02 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.10. Open Text had a net margin of 12.21% and a return on equity of 23.33%. Equities analysts expect that Open Text will post 3.37 EPS for the current year.

Open Text Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be paid a dividend of $0.2625 per share. This is an increase from Open Text's previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.05 annualized dividend and a yield of 3.66%. Open Text's payout ratio is presently 42.68%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of OTEX. Assenagon Asset Management S.A. increased its stake in shares of Open Text by 1.7% in the third quarter. Assenagon Asset Management S.A. now owns 18,872 shares of the software maker's stock valued at $629,000 after buying an additional 322 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Open Text by 3.3% in the third quarter. BNP Paribas Financial Markets now owns 11,093 shares of the software maker's stock valued at $369,000 after buying an additional 351 shares during the period. Cromwell Holdings LLC increased its stake in shares of Open Text by 29.6% in the third quarter. Cromwell Holdings LLC now owns 1,663 shares of the software maker's stock valued at $55,000 after buying an additional 380 shares during the period. Blue Trust Inc. increased its stake in shares of Open Text by 40.8% in the fourth quarter. Blue Trust Inc. now owns 1,373 shares of the software maker's stock valued at $39,000 after buying an additional 398 shares during the period. Finally, Allworth Financial LP increased its stake in shares of Open Text by 20.7% in the fourth quarter. Allworth Financial LP now owns 2,564 shares of the software maker's stock valued at $73,000 after buying an additional 439 shares during the period. Institutional investors and hedge funds own 70.37% of the company's stock.

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.