Open Text (NASDAQ:OTEX) Price Target Raised to $28.00 at Citigroup

Open Text (NASDAQ:OTEX) (TSE:OTC) had its price objective lifted by Citigroup from $25.00 to $28.00 in a research report released on Friday, MarketBeat reports. The brokerage currently has a neutral rating on the software maker’s stock.

A number of other equities analysts also recently commented on OTEX. Raymond James Financial downgraded shares of Open Text from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $35.00 to $29.50 in a report on Thursday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Open Text in a report on Wednesday, June 24th. UBS Group set a $25.00 price objective on Open Text in a research note on Friday, May 8th. Wall Street Zen cut Open Text from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 28th. Finally, Scotiabank set a $33.00 target price on Open Text in a research report on Friday. Three investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $32.46.

Open Text Stock Down 2.8%

OTEX stock opened at $24.94 on Friday. Open Text has a twelve month low of $19.77 and a twelve month high of $39.90. The company has a market cap of $6.04 billion, a PE ratio of 9.67 and a beta of 1.03. The business’s 50-day simple moving average is $23.05 and its 200 day simple moving average is $23.61. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.56.

Open Text (NASDAQ:OTEX) (TSE:OTC) last posted its quarterly earnings results on Thursday, August 6th. The software maker reported $1.23 EPS for the quarter, beating the consensus estimate of $1.02 by $0.21. Open Text had a return on equity of 25.80% and a net margin of 12.26%.The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the prior year, the firm posted $0.97 EPS. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, research analysts anticipate that Open Text will post 4.32 earnings per share for the current year.

Open Text Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.12 annualized dividend and a yield of 4.5%. This is an increase from Open Text’s previous quarterly dividend of $0.28. Open Text’s payout ratio is 53.66%.

Institutional Trading of Open Text

Several large investors have recently added to or reduced their stakes in OTEX. CIBC Private Wealth Group LLC acquired a new stake in shares of Open Text during the third quarter worth approximately $33,000. Global Retirement Partners LLC bought a new position in shares of Open Text in the second quarter valued at approximately $34,000. WealthCollab LLC boosted its holdings in shares of Open Text by 39.5% in the 2nd quarter. WealthCollab LLC now owns 1,640 shares of the software maker’s stock worth $48,000 after acquiring an additional 464 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Open Text by 5,096.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,611 shares of the software maker’s stock worth $52,000 after acquiring an additional 1,580 shares in the last quarter. Finally, Osaic Holdings Inc. grew its position in Open Text by 108.8% during the 2nd quarter. Osaic Holdings Inc. now owns 1,798 shares of the software maker’s stock worth $52,000 after acquiring an additional 937 shares during the last quarter. 70.37% of the stock is owned by institutional investors.

More Open Text News

Here are the key news stories impacting Open Text this week:

• Positive Sentiment: Fiscal Q4 EPS of $1.23 exceeded the $1.02 consensus estimate, while revenue of $1.33 billion topped expectations of $1.29 billion. Revenue increased 2.9% year over year, cloud revenue rose 6.0% to $503 million, and adjusted EBITDA increased 26.8%. OpenText Reports Fourth Quarter and Fiscal Year 2026 Financial Results
• Positive Sentiment: Scotia maintained a “sector outperform” rating and sees substantial potential upside, although it reduced its price target to $33 from $40. Citigroup also raised its target to $28 from $25, implying more modest upside, while retaining a “neutral” rating. Analyst Ratings
• Positive Sentiment: OpenText announced a quarterly dividend of $0.28 per share, representing an approximately 4.4% annualized yield. The dividend may support the stock’s appeal to income-focused investors.

Open Text Company Profile

Open Text Corporation is a Canadian enterprise information management (EIM) software company that develops solutions for organizations seeking to manage, protect and extract insight from their unstructured and structured data. The company’s platform encompasses document management, records management, digital asset management and archiving, enabling companies to govern information across its lifecycle.

Open Text’s product suite includes content services, business process management, customer experience management, analytics and security products.