Open Text Corp (OTEX) Receives Consensus Rating of “Buy” from Brokerages

Open Text Corp (TSE:OTEX) (NASDAQ:OTEX) has earned an average rating of “Buy” from the eight research firms that are covering the firm, reports. Five investment analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is C$41.83.

Separately, Macquarie cut their target price on Open Text from C$43.00 to C$40.00 in a research note on Thursday, November 23rd.

Open Text (TSE:OTEX) traded up C$0.25 on Monday, hitting C$42.17. The stock had a trading volume of 484,100 shares, compared to its average volume of 403,587. Open Text has a 1 year low of C$38.65 and a 1 year high of C$48.28.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Friday, December 1st will be paid a $0.17 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.68 annualized dividend and a yield of 1.61%. This is a boost from Open Text’s previous quarterly dividend of $0.13. Open Text’s dividend payout ratio is 66.76%.

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About Open Text

Open Text Corporation provides a suite of software products and services that assist organizations in finding, utilizing, and sharing business information from various devices. The company offers content solutions that provide content and records management, archiving, and email management and capture solutions, as well as Core, a software as a service based multi-tenant cloud solution; business process management for analyzing, automating, monitoring, and optimizing structured business processes; and customer experience management products, which offer Web content management, digital asset management, customer communications management, social software, and portal.

Analyst Recommendations for Open Text (TSE:OTEX)

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