Open Text Corp (OTEX) Receives C$41.83 Average Price Target from Brokerages

Shares of Open Text Corp (TSE:OTEX) (NASDAQ:OTEX) have earned a consensus rating of “Buy” from the eight research firms that are presently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is C$41.83.

Separately, Macquarie reduced their target price on Open Text from C$43.00 to C$40.00 in a report on Thursday, November 23rd.

Open Text (TSE:OTEX) traded down C$0.35 during trading hours on Monday, reaching C$41.65. The company’s stock had a trading volume of 232,850 shares, compared to its average volume of 401,144. Open Text has a 52 week low of C$38.65 and a 52 week high of C$48.28.

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 20th. Shareholders of record on Friday, December 1st were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date was Thursday, November 30th. This is an increase from Open Text’s previous quarterly dividend of $0.13. Open Text’s dividend payout ratio (DPR) is currently 66.76%.

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About Open Text

Open Text Corporation provides a suite of software products and services that assist organizations in finding, utilizing, and sharing business information from various devices. The company offers content solutions that provide content and records management, archiving, and email management and capture solutions, as well as Core, a software as a service based multi-tenant cloud solution; business process management for analyzing, automating, monitoring, and optimizing structured business processes; and customer experience management products, which offer Web content management, digital asset management, customer communications management, social software, and portal.

Analyst Recommendations for Open Text (TSE:OTEX)

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