Benchmark restated their buy rating on shares of Open Text (NASDAQ:OTEX) (TSE:OTC) in a report released on Thursday morning, Briefing.com Automated Import reports. The firm currently has a $48.00 price target on the software maker’s stock, up from their prior price target of $42.00.
OTEX has been the subject of a number of other reports. Zacks Investment Research upgraded shares of General Moly from a sell rating to a hold rating in a research note on Thursday. BidaskClub upgraded shares of ZIX from a buy rating to a strong-buy rating in a research note on Friday, May 3rd. Finally, Raymond James restated a buy rating and set a $21.00 price objective on shares of Colfax in a research note on Thursday, May 2nd. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Open Text has a consensus rating of Buy and an average target price of $46.09.
Open Text stock opened at $42.50 on Thursday. The business’s 50-day simple moving average is $41.13. Open Text has a one year low of $30.99 and a one year high of $43.14. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.38 and a current ratio of 1.38. The firm has a market cap of $11.46 billion, a P/E ratio of 41.67 and a beta of 0.48.
The company also recently announced a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, May 31st were paid a $0.1746 dividend. This is an increase from Open Text’s previous quarterly dividend of $0.12. This represents a $0.70 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend was Thursday, May 30th. Open Text’s dividend payout ratio (DPR) is 76.92%.
A number of large investors have recently modified their holdings of OTEX. Meridian Wealth Management LLC acquired a new stake in Open Text in the 1st quarter valued at about $25,000. Zions Bancorporation N.A. acquired a new stake in Open Text in the 1st quarter valued at about $27,000. Icon Wealth Partners LLC acquired a new stake in Open Text in the 1st quarter valued at about $46,000. Shine Investment Advisory Services Inc. lifted its stake in Open Text by 18.3% in the 1st quarter. Shine Investment Advisory Services Inc. now owns 2,622 shares of the software maker’s stock valued at $101,000 after purchasing an additional 405 shares during the last quarter. Finally, Bremer Bank National Association acquired a new stake in Open Text in the 1st quarter valued at about $109,000. Institutional investors and hedge funds own 67.41% of the company’s stock.
Open Text Company Profile
Open Text Corporation provides a suite of software products and services. The company offers content services; digital process automation, which enables organizations to transform into digital and data-driven businesses through automation; and discovery suite that provides forensics and unstructured data analytics for searching, collecting, and investigating enterprise data to manage legal obligations and risk.
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