Equities research analysts expect Open Text Corp (NASDAQ:OTEX) (TSE:OTC) to report $744.81 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Open Text’s earnings. The highest sales estimate is $771.00 million and the lowest is $711.60 million. Open Text reported sales of $734.41 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 1.4%. The company is scheduled to announce its next quarterly earnings results after the market closes on Thursday, January 31st.

On average, analysts expect that Open Text will report full-year sales of $2.88 billion for the current year, with estimates ranging from $2.79 billion to $2.95 billion. For the next financial year, analysts forecast that the company will post sales of $3.13 billion, with estimates ranging from $3.09 billion to $3.16 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Open Text.

Open Text (NASDAQ:OTEX) (TSE:OTC) last issued its quarterly earnings results on Wednesday, October 31st. The software maker reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.01. Open Text had a return on equity of 7.99% and a net margin of 8.51%. The firm had revenue of $667.20 million for the quarter, compared to analyst estimates of $692.53 million. During the same period in the previous year, the company posted $0.54 earnings per share. The company’s quarterly revenue was up 4.1% compared to the same quarter last year.

Several equities analysts recently issued reports on the company. CIBC restated an “average” rating and set a $49.00 price target on shares of Open Text in a research note on Friday. Raymond James reaffirmed an “outperform” rating and set a $48.00 price objective on shares of Open Text in a report on Monday, October 22nd. BidaskClub downgraded Open Text from a “buy” rating to a “hold” rating in a report on Friday, September 21st. BMO Capital Markets reaffirmed a “buy” rating and set a $40.00 price objective on shares of Open Text in a report on Thursday, November 1st. Finally, Barclays reaffirmed a “buy” rating on shares of Open Text in a report on Thursday, November 1st. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $45.10.

OTEX traded up $0.02 on Friday, hitting $34.49. 318,184 shares of the stock traded hands, compared to its average volume of 416,248. Open Text has a 52 week low of $30.99 and a 52 week high of $40.31. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $9.18 billion, a price-to-earnings ratio of 37.90 and a beta of 0.42.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 20th. Shareholders of record on Friday, November 30th were issued a dividend of $0.1518 per share. This represents a $0.61 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend was Thursday, November 29th. Open Text’s payout ratio is 67.03%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Blue Harbour Group L.P. boosted its holdings in Open Text by 0.6% during the second quarter. Blue Harbour Group L.P. now owns 9,855,331 shares of the software maker’s stock valued at $346,809,000 after purchasing an additional 61,306 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Open Text by 13.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 9,283,718 shares of the software maker’s stock worth $353,153,000 after acquiring an additional 1,136,163 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Open Text by 3.6% in the 3rd quarter. Vanguard Group Inc. now owns 6,558,071 shares of the software maker’s stock worth $249,469,000 after acquiring an additional 225,874 shares in the last quarter. Vanguard Group Inc boosted its holdings in shares of Open Text by 3.6% in the 3rd quarter. Vanguard Group Inc now owns 6,558,071 shares of the software maker’s stock worth $249,469,000 after acquiring an additional 225,874 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its holdings in shares of Open Text by 1.0% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 5,496,882 shares of the software maker’s stock worth $209,101,000 after acquiring an additional 54,105 shares in the last quarter. 67.26% of the stock is currently owned by institutional investors.

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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