Somewhat Positive Press Coverage Somewhat Unlikely to Affect Open Text (OTEX) Share Price
Press coverage about Open Text (NASDAQ:OTEX) (TSE:OTC) has trended somewhat positive recently, Accern reports. The research firm rates the sentiment of news coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Open Text earned a news sentiment score of 0.09 on Accern’s scale. Accern also assigned news stories about the software maker an impact score of 46.5739918347307 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
Shares of Open Text (NASDAQ OTEX) traded up $0.05 on Friday, hitting $32.76. 314,503 shares of the stock were exchanged, compared to its average volume of 525,589. Open Text has a fifty-two week low of $30.58 and a fifty-two week high of $35.45. The firm has a market cap of $8,700.00, a price-to-earnings ratio of 56.48 and a beta of 0.45. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.74 and a quick ratio of 0.74.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 20th. Stockholders of record on Friday, December 1st were issued a $0.132 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 1.61%. Open Text’s payout ratio is 91.38%.
Several equities analysts have recently commented on OTEX shares. Raymond James Financial lowered shares of Open Text to an “underperform” rating and set a $40.00 price objective on the stock. in a report on Wednesday, November 22nd. Macquarie reduced their target price on shares of Open Text from $43.00 to $40.00 in a report on Thursday, November 23rd. Zacks Investment Research lowered shares of Open Text from a “buy” rating to a “hold” rating in a report on Saturday, October 21st. CIBC increased their target price on shares of Open Text from $41.00 to $42.00 in a report on Friday, November 3rd. Finally, BMO Capital Markets reduced their target price on shares of Open Text from $40.00 to $38.00 in a report on Friday, November 3rd. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $42.27.
About Open Text
Open Text Corporation provides a platform and suite of software products and services that assist organizations in finding, utilizing, and sharing business information from any device. The Company designs, develops, markets and sells Enterprise Information Management (EIM) software and solutions. Its EIM offerings include Enterprise Content Management (ECM), Business Process Management (BPM), Customer Experience Management (CEM), Business Network, Discovery and Analytics.
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