Open Text (NASDAQ:OTEX) PT Set at $45.00 by National Bankshares

Open Text (NASDAQ:OTEX) (TSE:OTC) has been given a $45.00 target price by National Bankshares in a research note issued on Thursday,BayStreet.CA reports. The firm currently has an “outperform” rating on the software maker’s stock. National Bankshares’ price objective would suggest a potential upside of 14.36% from the company’s previous close.

A number of other equities analysts also recently issued reports on the stock. National Bank Financial raised shares of Open Text from a “sector perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a report on Monday, September 15th. Royal Bank Of Canada boosted their price target on shares of Open Text from $30.00 to $35.00 and gave the stock a “sector perform” rating in a report on Tuesday, September 2nd. Jefferies Financial Group downgraded shares of Open Text from a “buy” rating to a “hold” rating and set a $33.00 price target on the stock. in a report on Tuesday, August 12th. Wall Street Zen raised shares of Open Text from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Open Text in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $38.08.

Open Text Trading Up 0.8%

OTEX opened at $39.35 on Thursday. The company’s 50 day moving average is $36.16 and its 200-day moving average is $30.90. The company has a market cap of $9.91 billion, a P/E ratio of 23.85 and a beta of 1.17. Open Text has a 1-year low of $22.79 and a 1-year high of $39.90. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.61.

Open Text (NASDAQ:OTEX) (TSE:OTC) last released its quarterly earnings results on Thursday, August 7th. The software maker reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.11. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.30 billion. Open Text had a net margin of 8.43% and a return on equity of 22.52%. The company’s revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.98 EPS. Equities research analysts predict that Open Text will post 3.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Open Text

Institutional investors have recently added to or reduced their stakes in the company. Sagard Holdings Management Inc. bought a new position in shares of Open Text during the second quarter valued at $30,000. MAI Capital Management boosted its position in Open Text by 58.7% in the second quarter. MAI Capital Management now owns 1,595 shares of the software maker’s stock worth $47,000 after purchasing an additional 590 shares during the last quarter. Cromwell Holdings LLC boosted its position in Open Text by 27.4% in the second quarter. Cromwell Holdings LLC now owns 1,635 shares of the software maker’s stock worth $48,000 after purchasing an additional 352 shares during the last quarter. WealthCollab LLC lifted its position in shares of Open Text by 39.5% during the 2nd quarter. WealthCollab LLC now owns 1,640 shares of the software maker’s stock valued at $48,000 after buying an additional 464 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its position in shares of Open Text by 108.8% during the 2nd quarter. Osaic Holdings Inc. now owns 1,798 shares of the software maker’s stock valued at $52,000 after buying an additional 937 shares in the last quarter. Institutional investors own 70.37% of the company’s stock.

Open Text Company Profile

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.