Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC posted its earnings results on Thursday. The software maker reported $1.02 earnings per share for the quarter, topping the consensus estimate 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 %
Shares of NASDAQ:OTEX traded up $1.03 during mid-day trading on Monday, reaching $28.89. The stock had a trading volume of 1,267,351 shares, compared to its average volume of 652,290. The firm has a market cap of $7.62 billion, a PE ratio of 11.74 and a beta of 1.12. The firm has a 50 day simple moving average of $28.85 and a two-hundred day simple moving average of $30.61. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.54. Open Text has a twelve month low of $26.84 and a twelve month high of $41.96.
Open Text Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be given a $0.2625 dividend. This represents a $1.05 dividend on an annualized basis and a dividend yield of 3.63%. This is an increase from Open Text's previous quarterly dividend of $0.26. The ex-dividend date is Friday, March 7th. Open Text's dividend payout ratio (DPR) is currently 42.68%.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on the stock. UBS Group assumed coverage on shares of Open Text in a report on Tuesday, December 17th. They issued a "neutral" rating and a $32.00 target price on the stock. 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 report on Friday. StockNews.com lowered shares of Open Text from a "strong-buy" rating to a "buy" rating in a report on Monday, January 27th. BMO Capital Markets decreased 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 report on Friday, November 1st. Finally, Royal Bank of Canada decreased their price objective on shares of Open Text from $33.00 to $31.00 and set a "sector perform" rating on the stock in a report on Friday. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Open Text currently has a consensus rating of "Hold" and a consensus price target of $35.18.
Get Our Latest Analysis on Open Text
About Open Text
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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.
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