Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) had its price objective trimmed by Macquarie from $43.00 to $40.00 in a research note released on Thursday morning.

Several other research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Open Text Corporation from a buy rating to a hold rating in a report on Saturday, October 21st. Royal Bank Of Canada reaffirmed a buy rating and issued a $40.00 target price on shares of Open Text Corporation in a report on Monday, October 30th. Barclays PLC boosted their price objective on shares of Open Text Corporation from $54.00 to $55.00 in a report on Friday, November 3rd. BMO Capital Markets dropped their target price on shares of Open Text Corporation from $40.00 to $38.00 in a research report on Friday, November 3rd. Finally, TD Securities upped their target price on shares of Open Text Corporation from $38.00 to $51.00 and gave the stock a buy rating in a research report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $42.27.

Open Text Corporation (NASDAQ:OTEX) traded down $0.89 during mid-day trading on Thursday, hitting $33.02. 1,430,800 shares of the stock were exchanged, compared to its average volume of 507,928. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.67. Open Text Corporation has a one year low of $29.58 and a one year high of $35.45. The company has a market cap of $8,766.21, a PE ratio of 57.93 and a beta of 0.47.

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The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Friday, December 1st will be given a $0.132 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.53 dividend on an annualized basis and a yield of 1.60%. Open Text Corporation’s payout ratio is currently 92.98%.

A number of large investors have recently modified their holdings of the business. GSA Capital Partners LLP increased its stake in Open Text Corporation by 119.2% during the third quarter. GSA Capital Partners LLP now owns 136,427 shares of the software maker’s stock worth $4,405,000 after purchasing an additional 74,202 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its stake in Open Text Corporation by 12.9% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 19,857 shares of the software maker’s stock worth $641,000 after purchasing an additional 2,265 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Open Text Corporation during the third quarter worth about $999,000. Oppenheimer Asset Management Inc. increased its stake in shares of Open Text Corporation by 18.9% during the third quarter. Oppenheimer Asset Management Inc. now owns 18,014 shares of the software maker’s stock worth $582,000 after buying an additional 2,868 shares during the period. Finally, Turtle Creek Asset Management Inc. increased its stake in shares of Open Text Corporation by 6.7% during the third quarter. Turtle Creek Asset Management Inc. now owns 2,432,386 shares of the software maker’s stock worth $78,542,000 after buying an additional 152,600 shares during the period. Institutional investors own 64.82% of the company’s stock.

About Open Text Corporation

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.

Analyst Recommendations for Open Text Corporation (NASDAQ:OTEX)

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