Open Text (NASDAQ:OTEX – Get Free Report) (TSE:OTC) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.
Other equities analysts also recently issued research reports about the stock. Royal Bank Of Canada dropped their price target on shares of Open Text from $30.00 to $27.00 and set a “sector perform” rating for the company in a research note on Friday, May 8th. Scotia decreased their price target on Open Text from $40.00 to $33.00 and set a “sector outperform” rating for the company in a report on Friday. Scotiabank set a $33.00 price objective on Open Text in a research report on Friday. UBS Group raised their target price on Open Text from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Open Text in a report on Wednesday, June 24th. Three equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $32.46.
View Our Latest Report on OTEX
Open Text Stock Performance
Open Text (NASDAQ:OTEX – Get Free Report) (TSE:OTC) last released its quarterly earnings results on Thursday, August 6th. The software maker reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.21. Open Text had a net margin of 12.26% and a return on equity of 25.76%. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the firm earned $0.97 EPS. The business’s revenue was up 2.9% on a year-over-year basis. On average, analysts predict that Open Text will post 4.32 EPS for the current year.
Hedge Funds Weigh In On Open Text
A number of large investors have recently bought and sold shares of OTEX. Tidal Investments LLC raised its stake in shares of Open Text by 2.6% in the 2nd quarter. Tidal Investments LLC now owns 18,059 shares of the software maker’s stock valued at $527,000 after acquiring an additional 460 shares during the period. WealthCollab LLC lifted its holdings 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 acquiring an additional 464 shares in the last quarter. Byrne Asset Management LLC boosted its position in Open Text by 11.5% during the 2nd quarter. Byrne Asset Management LLC now owns 4,837 shares of the software maker’s stock worth $107,000 after purchasing an additional 500 shares during the period. Vident Advisory LLC boosted its position in Open Text by 3.7% during the 4th quarter. Vident Advisory LLC now owns 15,715 shares of the software maker’s stock worth $512,000 after purchasing an additional 555 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in Open Text by 39.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,005 shares of the software maker’s stock valued at $59,000 after purchasing an additional 570 shares in the last quarter. Hedge funds and other institutional investors own 70.37% of the company’s stock.
More Open Text News
Here are the key news stories impacting Open Text this week:
- Positive Sentiment: Fiscal Q4 EPS of $1.23 exceeded the $1.02 consensus estimate, while revenue of $1.33 billion topped expectations of $1.29 billion. Revenue increased 2.9% year over year, cloud revenue rose 6.0% to $503 million, and adjusted EBITDA increased 26.8%. OpenText Reports Fourth Quarter and Fiscal Year 2026 Financial Results
- Positive Sentiment: Scotia maintained a “sector outperform” rating and sees substantial potential upside, although it reduced its price target to $33 from $40. Citigroup also raised its target to $28 from $25, implying more modest upside, while retaining a “neutral” rating. Analyst Ratings
- Positive Sentiment: OpenText announced a quarterly dividend of $0.28 per share, representing an approximately 4.4% annualized yield. The dividend may support the stock’s appeal to income-focused investors.
Open Text Company Profile
Open Text Corporation is a Canadian enterprise information management (EIM) software company that develops solutions for organizations seeking to manage, protect and extract insight from their unstructured and structured data. The company’s platform encompasses document management, records management, digital asset management and archiving, enabling companies to govern information across its lifecycle.
Open Text’s product suite includes content services, business process management, customer experience management, analytics and security products.
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