Open Text Corporation (NASDAQ:OTEX) shares traded 0.77% higher at $32.56 on Wall Street last session.
OTEX stock price is now 10.73% away from the 50-day moving average and -4.90% away from the 200-day moving average. The market capitalization of the company currently stands at $8.68B.
With the price target of $34, Citigroup recently initiated with Neutral rating for Open Text Corporation (NASDAQ: OTEX)., while ‘Barclays’ rates the stock as ‘Equal Weight’.
A total of 2.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in OTEX stock. A new stake in Open Text Corporation shares was purchased by COOKE & BIELER LP during the first quarter worth $133,098,000. KABOUTER MANAGEMENT, LLC invested $21,935,000 in shares of OTEX during the first quarter. In the first quarter, INVENOMIC CAPITAL MANAGEMENT LP acquired a new stake in Open Text Corporation valued at approximately $4,187,000. BRIDGEWATER ASSOCIATES, LP acquired a new stake in OTEX for approximately $4,137,000. GRAHAM CAPITAL MANAGEMENT, L.P. purchased a new stake in OTEX valued at around $3,798,000 in the second quarter. In total, there are 521 active investors with 77.80% ownership of the company’s stock.
Open Text Corporation (NASDAQ: OTEX) opened at $32.17 on Thursday. During the past 12 months, Open Text Corporation has had a low of $24.91 and a high of $48.46. As of last week, the company has a debt-to-equity ratio of 1.10, a current ratio of 1.40, and a quick ratio of 1.40. The fifty day moving average price for OTEX is $29.52 and a two-hundred day moving average price translates $34.19 for the stock.
The latest earnings results from Open Text Corporation (NASDAQ: OTEX) was released for Jun, 2022. According to the Software – Application Company, earnings per share came in at $1.1, beating analysts’ expectations of $1.07 by 0.03. This compares to $0.48 EPS in the same period last year. The net profit margin was 4.20% and return on equity was 3.70% for OTEX. The company reported revenue of $852.04 million for the quarter, compared to $832.31 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 2.37 percent. For the current quarter, analysts expect OTEX to generate $1.14B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 12/22/2022. Investors who held shares on 12/02/2022 were paid a $0.24299 dividend. On an annualized basis, this represents a $0.97 dividend and a 2.99% percent yield. There was an ex-dividend date of 12/01/2022 for this dividend. In terms of dividend payout ratio, OTEX is presently at 166.10%.
Open Text Corporation(OTEX) Company Profile
Open Text Corporation engages in the designs, develops, markets, and sells information management software and solutions. It offers content services; business network that manages data within the organization and outside the firewall; security and protection solutions for defending against cyber threats, and preparing for business continuity and response in the event of a breach; digital investigation and forensic security solutions; OpenText security solutions to address information cyber resilience needs; Carbonite and Webroot products; and OpenText Information Management software platform. The company also provides eDiscovery platform that provides forensics and unstructured data analytics; OpenText Developer Cloud; key developer API services; AI and analytics that leverages structured or unstructured data; digital process automation solutions, which enables organizations to transform into digital data-driven businesses; and OpenText Digital Experience platform. In addition, it offers customer support programs, including access to software upgrades, a knowledge base, discussions, product information, and an online mechanism to post and review trouble tickets; and consulting and learning services relating to the implementation, training, and integration of its licensed product offerings, as well as cloud services. The company serves organizations, enterprise and mid-market companies, public sector agencies, small and medium-sized businesses, and direct consumers in Canada, the United States, the United Kingdom, Germany, rest of Europe, the Middle East, Africa, and internationally. It has strategic partnerships with SAP SE, Google Cloud, Amazon AWS, Microsoft Corporation, Oracle Corporation, Salesforce.com Corporation, Accenture plc, ATOS, Capgemini Technology Services SAS, Cognizant Technology Solutions U.S. Corp., Deloitte Consulting LLP, and Tata Consultancy Services. Open Text Corporation was incorporated in 1991 and is headquartered in Waterloo, Canada.