Open Text (NASDAQ:OTEX) Issues Quarterly Earnings Results

Open Text (NASDAQ:OTEX) (TSE:OTC) issued its quarterly earnings data on Thursday. The software maker reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.10, Zacks reports. Open Text had a return on equity of 23.33% and a net margin of 12.21%.

Open Text Trading Down 5.7 %

NASDAQ OTEX traded down $1.67 on Friday, reaching $27.86. 1,545,806 shares of the company were exchanged, compared to its average volume of 567,375. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.54. The business’s fifty day moving average price is $28.90 and its 200 day moving average price is $30.64. The stock has a market capitalization of $7.35 billion, a P/E ratio of 11.33 and a beta of 1.12. Open Text has a fifty-two week low of $26.84 and a fifty-two week high of $42.17.

Open Text Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be issued a $0.2625 dividend. This represents a $1.05 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Friday, March 7th. This is a boost from Open Text’s previous quarterly dividend of $0.26. Open Text’s dividend payout ratio (DPR) is currently 42.68%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. UBS Group started coverage on Open Text in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 price objective on the stock. TD Securities dropped their price objective on Open Text from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Scotiabank reduced their target price on Open Text from $40.00 to $35.00 and set a “sector perform” rating for the company in a research note on Friday, November 1st. StockNews.com cut shares of Open Text from a “strong-buy” rating to a “buy” rating in a research note on Monday, January 27th. Finally, Barclays upped their price objective on shares of Open Text from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Friday. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $35.45.

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.