Open Text (NASDAQ:OTEX) Issues Earnings Results

Open Text (NASDAQ:OTEX) (TSE:OTC) issued its quarterly earnings data on Thursday. The software maker reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.10, Zacks reports. Open Text had a return on equity of 24.34% and a net margin of 8.35%.

Open Text Stock Down 2.8 %

Shares of NASDAQ:OTEX traded down $0.86 during mid-day trading on Thursday, hitting $29.53. 893,542 shares of the company traded hands, compared to its average volume of 572,111. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.79 and a current ratio of 0.79. Open Text has a 52-week low of $26.84 and a 52-week high of $42.17. The firm’s 50 day simple moving average is $28.92 and its 200 day simple moving average is $30.65. The firm has a market cap of $7.79 billion, a P/E ratio of 17.07 and a beta of 1.12.

Analyst Upgrades and Downgrades

OTEX has been the subject of a number of analyst reports. BMO Capital Markets cut their price objective on shares of Open Text from $33.00 to $32.00 and set a “market perform” rating for the company in a research report on Friday, November 1st. StockNews.com downgraded Open Text from a “strong-buy” rating to a “buy” rating in a report on Monday, January 27th. Scotiabank lowered their price objective on Open Text from $40.00 to $35.00 and set a “sector perform” rating for the company in a research report on Friday, November 1st. TD Securities reduced their target price on Open Text from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday. Finally, UBS Group initiated coverage on shares of Open Text in a report on Tuesday, December 17th. They set a “neutral” rating and a $32.00 price objective on the stock. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.27.

About Open Text

Open Text Corporation provides information management software and solutions. The company offers content services, which includes content collaboration and intelligent capture to records management, collaboration, e-signatures, and archiving; and operates experience cloud platform that provides customer experience and web content management, digital asset management, customer analytics, AI and insights, e-discovery, digital fax, omnichannel communications, secure messaging, and voice of customer, as well as customer journey, testing, and segmentation.