Open Text Co. (NASDAQ:OTEX – Get Free Report) (TSE:OTC) declared a quarterly dividend on Wednesday, July 31st, Zacks reports. Stockholders of record on Friday, August 30th will be paid a dividend of 0.192 per share by the software maker on Friday, September 20th. This represents a $0.77 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Friday, August 30th.
Open Text has increased its dividend payment by an average of 10.9% per year over the last three years. Open Text has a dividend payout ratio of 29.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Open Text to earn $3.73 per share next year, which means the company should continue to be able to cover its $1.05 annual dividend with an expected future payout ratio of 28.2%.
Open Text Stock Down 1.1 %
Shares of OTEX traded down $0.37 during mid-day trading on Wednesday, hitting $32.25. 245,615 shares of the company’s stock were exchanged, compared to its average volume of 666,302. The company has a market cap of $8.70 billion, a PE ratio of 52.21 and a beta of 1.12. Open Text has a 52 week low of $27.50 and a 52 week high of $45.47. The company has a 50-day simple moving average of $30.78 and a 200 day simple moving average of $33.43. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.81 and a quick ratio of 0.81.
Analyst Ratings Changes
OTEX has been the subject of several analyst reports. Citigroup decreased their target price on shares of Open Text from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. CIBC decreased their target price on shares of Open Text from $36.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Raymond James decreased their target price on shares of Open Text from $55.00 to $48.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. BMO Capital Markets cut their price target on Open Text from $38.00 to $33.00 and set a “market perform” rating for the company in a report on Friday, August 2nd. Finally, National Bankshares downgraded Open Text from an “outperform” rating to a “sector perform” rating and set a $38.00 price target for the company. in a report on Friday, August 2nd. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Open Text has an average rating of “Hold” and an average price target of $38.60.
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.
Featured Stories
- Five stocks we like better than Open Text
- Why Understanding Call Option Volume is Essential to Successful Options Trading
- BHP Stock: The Under-the-Radar Growth Story in Commodities
- Stock Splits, Do They Really Impact Investors?
- Analysts Upgrade These 3 Hot Buy-and-Hold Stocks
- Transportation Stocks Investing
- Kohl’s Charts a Resilient Path in a Challenging Retail Landscape
Receive News & Ratings for Open Text Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Open Text and related companies with MarketBeat.com's FREE daily email newsletter.