Q2 2017 EPS Estimates for Open Text Corporation Lifted by National Bank Financial (OTEX)

Q2 2017 EPS Estimates for Open Text Corporation Lifted by National Bank Financial (OTEX)

Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) – Equities researchers at National Bank Financial increased their Q2 2017 earnings estimates for Open Text Corporation in a note issued to investors on Thursday. National Bank Financial analyst R. Tse now anticipates that the firm will post earnings per share of $0.31 for the quarter, up from their prior estimate of $0.31.

A number of other analysts also recently issued reports on OTEX. Mitsubishi UFJ Financial Group reiterated an “overweight” rating and issued a $72.00 price target on shares of Open Text Corporation in a report on Tuesday. Zacks Investment Research upgraded shares of Open Text Corporation from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a report on Tuesday, October 25th. Barclays PLC began coverage on shares of Open Text Corporation in a report on Tuesday. They issued an “overweight” rating and a $76.00 price target on the stock. RBC Capital Markets reiterated an “outperform” rating and issued a $91.00 price target on shares of Open Text Corporation in a report on Wednesday, December 7th. Finally, TD Securities reiterated a “buy” rating and issued a $72.00 price target on shares of Open Text Corporation in a report on Thursday, December 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company’s stock. Open Text Corporation presently has a consensus rating of “Buy” and an average target price of $73.45.

Open Text Corporation (NASDAQ:OTEX) traded down 0.29% during mid-day trading on Friday, reaching $34.68. 232,270 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $61.49 and its 200 day moving average price is $62.45. The firm has a market cap of $8.38 billion, a price-to-earnings ratio of 7.32 and a beta of 0.78. Open Text Corporation has a one year low of $33.16 and a one year high of $66.84.

Large investors have recently added to or reduced their stakes in the stock. Creative Planning boosted its stake in Open Text Corporation by 49.8% in the third quarter. Creative Planning now owns 1,543 shares of the company’s stock valued at $100,000 after buying an additional 513 shares during the period. BKS Advisors LLC bought a new stake in Open Text Corporation during the third quarter valued at about $110,000. Quantbot Technologies LP boosted its stake in Open Text Corporation by 121.1% in the third quarter. Quantbot Technologies LP now owns 2,047 shares of the company’s stock valued at $132,000 after buying an additional 1,121 shares during the period. C M Bidwell & Associates Ltd. bought a new stake in Open Text Corporation during the second quarter valued at about $188,000. Finally, Welch & Forbes LLC bought a new stake in Open Text Corporation during the third quarter valued at about $214,000. 64.09% of the stock is owned by institutional investors.

Open Text Corporation Company Profile

Open Text Corporation provides a platform and suite of software products and services that assist organizations in finding, utilizing, and sharing business information from any device. The Company designs, develops, markets and sells Enterprise Information Management (EIM) software and solutions. Its EIM offerings include Enterprise Content Management (ECM), Business Process Management (BPM), Customer Experience Management (CEM), Business Network, Discovery and Analytics.

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