Open Text Corp (NASDAQ:OTEX) (TSE:OTC) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $46.50 and last traded at $46.49, with a volume of 16595 shares changing hands. The stock had previously closed at $45.63.
A number of equities research analysts have recently commented on OTEX shares. CIBC reiterated a “buy” rating on shares of Open Text in a research report on Tuesday, October 29th. Royal Bank of Canada lifted their target price on Open Text from $47.00 to $50.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Raymond James set a $48.00 target price on Open Text and gave the company an “outperform” rating in a report on Thursday, December 19th. Zacks Investment Research lowered shares of Open Text from a “buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Finally, BidaskClub raised shares of Open Text from a “hold” rating to a “buy” rating in a research report on Friday, January 10th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $48.00.
The company has a market cap of $12.50 billion, a price-to-earnings ratio of 43.86 and a beta of 0.57. The company’s 50 day moving average price is $43.94 and its 200 day moving average price is $41.67. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.62 and a current ratio of 1.62.
Large investors have recently made changes to their positions in the company. OmniStar Financial Group Inc. bought a new stake in Open Text in the fourth quarter valued at about $935,000. Hexavest Inc. lifted its holdings in Open Text by 10.8% during the 4th quarter. Hexavest Inc. now owns 72,131 shares of the software maker’s stock valued at $3,183,000 after purchasing an additional 7,034 shares during the last quarter. Accurate Investment Solutions Inc. boosted its position in Open Text by 212.5% in the fourth quarter. Accurate Investment Solutions Inc. now owns 1,428 shares of the software maker’s stock valued at $63,000 after buying an additional 971 shares in the last quarter. Banco de Sabadell S.A acquired a new position in Open Text in the third quarter valued at about $1,919,000. Finally, Disciplined Growth Investors Inc. MN grew its stake in Open Text by 1.5% during the third quarter. Disciplined Growth Investors Inc. MN now owns 4,898,127 shares of the software maker’s stock worth $199,893,000 after buying an additional 70,869 shares during the last quarter. 65.42% of the stock is currently owned by institutional investors.
Open Text Company Profile (NASDAQ:OTEX)
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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