By otakuyassine3@gmail.com 
Several brokerages have updated their recommendations and price targets on shares of Open Text (NASDAQ: OTEX) in the last few weeks:
- 1/11/2025 – Open Text was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
- 1/3/2025 – Open Text was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
- 12/30/2024 – Open Text had its price target lowered by analysts at TD Securities from $40.00 to $38.00. They now have a “buy” rating on the stock.
- 12/25/2024 – Open Text was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
- 12/24/2024 – Open Text had its price target lowered by analysts at TD Securities from $40.00 to $38.00. They now have a “buy” rating on the stock.
- 12/17/2024 – Open Text was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
- 12/17/2024 – Open Text is now covered by analysts at UBS Group AG. They set a “neutral” rating and a $32.00 price target on the stock.
Open Text Trading Up 1.4 %
NASDAQ:OTEX opened at $27.56 on Wednesday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.54. Open Text Co. has a twelve month low of $26.84 and a twelve month high of $45.47. The company has a market cap of $7.29 billion, a P/E ratio of 15.93 and a beta of 1.12. The business has a 50 day moving average price of $29.11 and a two-hundred day moving average price of $30.90.
Open Text (NASDAQ:OTEX – Get Free Report) (TSE:OTC) last released its earnings results on Thursday, October 31st. The software maker reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.13. Open Text had a net margin of 8.35% and a return on equity of 24.34%. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the firm earned $0.90 earnings per share. The firm’s revenue for the quarter was down 11.0% compared to the same quarter last year. As a group, analysts expect that Open Text Co. will post 3.37 EPS for the current fiscal year.
Open Text Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, November 29th were issued a dividend of $0.262 per share. This represents a $1.05 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend was Friday, November 29th. This is a positive change from Open Text’s previous quarterly dividend of $0.19. Open Text’s dividend payout ratio is presently 60.69%.
Institutional Investors Weigh In On Open Text
Several large investors have recently made changes to their positions in OTEX. American Century Companies Inc. lifted its stake in Open Text by 13.6% in the second quarter. American Century Companies Inc. now owns 92,871 shares of the software maker’s stock valued at $2,789,000 after acquiring an additional 11,127 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Open Text by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 787,619 shares of the software maker’s stock worth $23,660,000 after buying an additional 45,380 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in Open Text by 5.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 17,436 shares of the software maker’s stock valued at $524,000 after buying an additional 874 shares during the period. JARISLOWSKY FRASER Ltd lifted its holdings in Open Text by 5.1% during the 2nd quarter. JARISLOWSKY FRASER Ltd now owns 15,702,510 shares of the software maker’s stock valued at $471,415,000 after purchasing an additional 767,822 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Open Text during the 2nd quarter worth about $778,000. Institutional investors and hedge funds own 70.37% of the company’s stock.
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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