Analysts expect Open Text Corp (NASDAQ:OTEX) (TSE:OTC) to post sales of $703.53 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Open Text’s earnings. The lowest sales estimate is $698.00 million and the highest is $707.10 million. Open Text posted sales of $640.69 million in the same quarter last year, which suggests a positive year-over-year growth rate of 9.8%. The firm is expected to issue its next quarterly earnings results after the market closes on Wednesday, October 31st.

According to Zacks, analysts expect that Open Text will report full year sales of $3.00 billion for the current year, with estimates ranging from $2.92 billion to $3.05 billion. For the next financial year, analysts expect that the company will post sales of $3.22 billion, with estimates ranging from $3.17 billion to $3.28 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Open Text.

Open Text (NASDAQ:OTEX) (TSE:OTC) last released its earnings results on Thursday, August 2nd. The software maker reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.04. The company had revenue of $754.30 million for the quarter, compared to the consensus estimate of $732.02 million. Open Text had a net margin of 8.60% and a return on equity of 8.09%. Open Text’s revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.60 EPS.

Several analysts have commented on OTEX shares. BidaskClub upgraded shares of Open Text from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 10th. Scotiabank restated a “buy” rating and set a $46.00 price objective on shares of Open Text in a research note on Friday, August 3rd. Industrial Alliance Securities lifted their price objective on shares of Open Text from $40.00 to $42.00 in a research note on Friday, August 3rd. Barclays lifted their price objective on shares of Open Text from $46.00 to $48.00 and gave the company an “overweight” rating in a research note on Monday, August 6th. Finally, Royal Bank of Canada lifted their price objective on shares of Open Text from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, August 3rd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $44.18.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN lifted its stake in shares of Open Text by 4.2% in the 1st quarter. Wells Fargo & Company MN now owns 99,321 shares of the software maker’s stock valued at $3,456,000 after purchasing an additional 4,003 shares during the period. Neuberger Berman Group LLC acquired a new position in shares of Open Text in the 1st quarter valued at $241,000. Northern Trust Corp lifted its stake in shares of Open Text by 40.9% in the 1st quarter. Northern Trust Corp now owns 151,311 shares of the software maker’s stock valued at $5,265,000 after purchasing an additional 43,956 shares during the period. BlackRock Inc. lifted its stake in shares of Open Text by 31.6% in the 1st quarter. BlackRock Inc. now owns 1,133,965 shares of the software maker’s stock valued at $39,463,000 after purchasing an additional 272,127 shares during the period. Finally, Natixis Advisors L.P. acquired a new position in shares of Open Text in the 1st quarter valued at $914,000. Institutional investors and hedge funds own 67.61% of the company’s stock.

NASDAQ OTEX traded up $0.81 on Monday, hitting $34.78. 594,732 shares of the company’s stock traded hands, compared to its average volume of 527,967. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.70. Open Text has a 1-year low of $32.05 and a 1-year high of $40.31. The stock has a market cap of $10.20 billion, a price-to-earnings ratio of 38.22 and a beta of 0.27.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 21st. Shareholders of record on Friday, August 31st were paid a dividend of $0.1518 per share. This represents a $0.61 annualized dividend and a yield of 1.75%. The ex-dividend date was Thursday, August 30th. Open Text’s payout ratio is 67.03%.

About Open Text

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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