Open Text (NASDAQ:OTEX - Free Report) TSE: OTC had its price objective reduced by TD Securities from $40.00 to $38.00 in a report released on Monday morning,BayStreet.CA reports. They currently have a buy rating on the software maker's stock.
OTEX has been the subject of a number of other research reports. Citigroup cut their price target on shares of Open Text from $33.00 to $30.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Scotiabank decreased their price target on 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. BMO Capital Markets dropped their price objective on Open Text from $33.00 to $32.00 and set a "market perform" rating for the company in a research report on Friday, November 1st. StockNews.com cut Open Text from a "strong-buy" rating to a "buy" rating in a research report on Monday, January 27th. Finally, Barclays dropped their target price on shares of Open Text from $36.00 to $34.00 and set an "equal weight" rating for the company in a report on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $35.27.
Read Our Latest Report on Open Text
Open Text Price Performance
Shares of NASDAQ OTEX traded down $0.86 during midday trading on Monday, reaching $29.53. The company's stock had a trading volume of 893,542 shares, compared to its average volume of 572,111. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.79 and a current ratio of 0.79. The company has a market cap of $7.79 billion, a P/E ratio of 17.07 and a beta of 1.12. The business's 50 day moving average price is $28.92 and its two-hundred day moving average price is $30.65. Open Text has a fifty-two week low of $26.84 and a fifty-two week high of $42.17.
Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last released its earnings results on Thursday, February 6th. The software maker reported $1.02 earnings per share for the quarter, beating analysts' consensus estimates of $0.92 by $0.10. Open Text had a return on equity of 24.34% and a net margin of 8.35%. On average, analysts forecast that Open Text will post 3.37 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its stake in Open Text by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 677,709 shares of the software maker's stock worth $19,170,000 after purchasing an additional 5,177 shares during the period. Plato Investment Management Ltd bought a new stake in Open Text in the fourth quarter valued at $138,000. Asahi Life Asset Management CO. LTD. acquired a new position in shares of Open Text during the fourth quarter valued at about $241,000. Bridges Investment Management Inc. boosted its position in shares of Open Text by 16.7% during the 4th quarter. Bridges Investment Management Inc. now owns 55,240 shares of the software maker's stock worth $1,564,000 after purchasing an additional 7,910 shares in the last quarter. Finally, K.J. Harrison & Partners Inc acquired a new position in Open Text during the 4th quarter worth approximately $537,000. Institutional investors and hedge funds own 70.37% of the company's stock.
Open Text Company Profile
(
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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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