Shares of Open Text Co. (NASDAQ:OTEX – Get Rating) (TSE:OTC) have been assigned a consensus rating of “Moderate Buy” from the nine analysts that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $45.14.
OTEX has been the topic of several research reports. TheStreet cut Open Text from a “b” rating to a “c+” rating in a report on Thursday, May 4th. Citigroup boosted their price target on Open Text from $33.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, February 6th. StockNews.com raised Open Text from a “hold” rating to a “buy” rating in a research note on Wednesday, May 24th. TD Securities boosted their price target on Open Text from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, May 5th. Finally, Barclays upped their target price on Open Text from $41.00 to $43.00 in a research report on Friday, May 5th.
Open Text Trading Up 1.2 %
OTEX stock opened at $42.59 on Tuesday. Open Text has a one year low of $24.91 and a one year high of $42.86. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market cap of $11.53 billion, a price-to-earnings ratio of 38.03 and a beta of 1.06. The company has a fifty day moving average price of $39.51 and a two-hundred day moving average price of $34.95.
Open Text Announces Dividend
Institutional Trading of Open Text
Several institutional investors and hedge funds have recently modified their holdings of OTEX. Dimensional Fund Advisors LP raised its holdings in shares of Open Text by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 418,847 shares of the software maker’s stock valued at $17,759,000 after buying an additional 7,288 shares in the last quarter. Sei Investments Co. grew its position in shares of Open Text by 14.1% in the 1st quarter. Sei Investments Co. now owns 213,916 shares of the software maker’s stock worth $9,073,000 after buying an additional 26,359 shares during the last quarter. Aviva PLC bought a new stake in shares of Open Text in the 1st quarter worth approximately $1,925,000. Canada Pension Plan Investment Board grew its position in shares of Open Text by 34.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 309,399 shares of the software maker’s stock worth $13,131,000 after buying an additional 79,800 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Open Text by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 9,079,999 shares of the software maker’s stock worth $384,993,000 after buying an additional 262,200 shares during the last quarter. Hedge funds and other institutional investors own 63.93% of the company’s stock.
Open Text Company Profile
Open Text Corp. engages in the design, development, marketing and sales of enterprise information management software and solutions. It includes customer experience management (CEM), digital process automation, business network, and enterprise content management, discovery, security, and artificial intelligence (AI) and analytics solutions.
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