Open Text (NASDAQ:OTEX) Issues Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Open Text (NASDAQ:OTEX) (TSE:OTC) announced its quarterly earnings data on Thursday. The software maker reported $1.02 EPS for the quarter, beating 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 Performance

Shares of NASDAQ OTEX opened at $29.53 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.54. Open Text has a 12-month low of $26.84 and a 12-month high of $42.17. The firm has a market capitalization of $7.79 billion, a price-to-earnings ratio of 17.07 and a beta of 1.12. The firm has a 50 day moving average of $28.92 and a 200 day moving average of $30.65.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. StockNews.com cut Open Text from a “strong-buy” rating to a “buy” rating in a research note on Monday, January 27th. Royal Bank of Canada lowered Open Text from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $45.00 to $33.00 in a research report on Friday, November 1st. TD Securities cut their price objective on shares of Open Text from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday. UBS Group began coverage on shares of Open Text in a report on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 target price for the company. Finally, Scotiabank reduced their price target on shares of 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. Nine 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 presently has a consensus rating of “Hold” and a consensus target price of $35.27.

Open Text Company Profile

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.