2 weeks Ago By ABMN Staff
Open Text ( NASDAQ:OTEX – Free Report ) (TSE:OTC) had its price target lowered by Royal Bank of Canada from $31.00 to $30.00 in a report published on Tuesday morning, BayStreet.
CA reports. The brokerage currently has a sector perform rating on the software maker’s stock. Other equities analysts have also issued research reports about the stock.
Barclays decreased their price target on shares of Open Text from $36.00 to $29.00 and set an “equal weight” rating on the stock in a report on Monday.
Citigroup lifted their target price on Open Text from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, February 7th.
StockNews.com lowered Open Text from a “strong-buy” rating to a “buy” rating in a research note on Monday, January 27th. Finally, TD Securities cut their price objective on Open Text from $38.
00 to $35.00 and set a “buy” rating on the stock in a report on Sunday, February 9th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock.
Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $34.45. Check Out Our Latest Research Report on Open Text Open Text Stock Performance Open Text ( NASDAQ:OTEX – Get Free Report ) (TSE:OTC) last posted its quarterly earnings data on Thursday, February 6th.
The software maker reported $1.02 EPS for the quarter, beating 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.
23%. Equities research analysts anticipate that Open Text will post 3.45 earnings per share for the current year.
Open Text Increases Dividend The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a $0.2625 dividend.
This is an increase from Open Text’s previous quarterly dividend of $0.26. The ex-dividend date was Friday, March 7th.
This represents a $1.05 annualized dividend and a yield of 4.12%.
Open Text’s dividend payout ratio (DPR) is 42.68%. Institutional Inflows and Outflows Institutional investors have recently made changes to their positions in the company.
Choreo LLC purchased a new stake in Open Text during the 4th quarter worth $564,000. Franklin Resources Inc. grew its stake in shares of Open Text by 19.
9% during the third quarter. Franklin Resources Inc. now owns 205,891 shares of the software maker’s stock valued at $7,086,000 after acquiring an additional 34,135 shares in the last quarter.
Canoe Financial LP increased its position in shares of Open Text by 127.3% during the fourth quarter. Canoe Financial LP now owns 150,000 shares of the software maker’s stock worth $4,242,000 after acquiring an additional 84,000 shares during the last quarter.
Wedge Capital Management L L P NC acquired a new position in shares of Open Text in the fourth quarter worth about $2,372,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Open Text by 30.9% in the fourth quarter.
Allspring Global Investments Holdings LLC now owns 166,476 shares of the software maker’s stock valued at $4,705,000 after purchasing an additional 39,266 shares during the last quarter. 70.37% of the stock is owned by institutional investors and hedge funds.
About Open Text ( Get Free Report ) 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. Featured Articles Receive News & Ratings for Open Text Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Open Text and related companies with MarketBeat.
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