Analysts’ Recent Ratings Updates for Open Text (OTEX)

Several brokerages have updated their recommendations and price targets on shares of Open Text (NASDAQ: OTEX) in the last few weeks:

• 2/3/2025 – Open Text had its price target lowered by analysts at TD Securities from $40.00 to $38.00. They now have a “buy” rating on the stock.
• 1/27/2025 – Open Text was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 1/19/2025 – Open Text was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 1/16/2025 – Open Text had its price target lowered by analysts at Citigroup Inc. from $33.00 to $30.00. They now have a “neutral” rating on the stock.
• 1/11/2025 – Open Text was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 1/3/2025 – Open Text was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 12/30/2024 – Open Text had its price target lowered by analysts at TD Securities from $40.00 to $38.00. They now have a “buy” rating on the stock.
• 12/25/2024 – Open Text was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 12/24/2024 – Open Text had its price target lowered by analysts at TD Securities from $40.00 to $38.00. They now have a “buy” rating on the stock.
• 12/17/2024 – Open Text was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 12/17/2024 – Open Text is now covered by analysts at UBS Group AG. They set a “neutral” rating and a $32.00 price target on the stock.

Open Text Stock Performance

Shares of NASDAQ:OTEX traded up $0.23 during trading on Tuesday, hitting $29.37. The stock had a trading volume of 390,645 shares, compared to its average volume of 565,188. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.54. Open Text Co. has a 12-month low of $26.84 and a 12-month high of $43.13. The stock has a market capitalization of $7.75 billion, a price-to-earnings ratio of 16.98 and a beta of 1.12. The stock has a 50-day simple moving average of $28.96 and a two-hundred day simple moving average of $30.68.

Hedge Funds Weigh In On Open Text

Institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. grew its position in Open Text by 1.7% during the third quarter. Assenagon Asset Management S.A. now owns 18,872 shares of the software maker’s stock valued at $629,000 after buying an additional 322 shares during the period. BNP Paribas Financial Markets grew its position in shares of Open Text by 3.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,093 shares of the software maker’s stock valued at $369,000 after acquiring an additional 351 shares during the period. Cromwell Holdings LLC increased its stake in shares of Open Text by 29.6% in the 3rd quarter. Cromwell Holdings LLC now owns 1,663 shares of the software maker’s stock valued at $55,000 after purchasing an additional 380 shares in the last quarter. Blue Trust Inc. raised its holdings in Open Text by 40.8% in the 4th quarter. Blue Trust Inc. now owns 1,373 shares of the software maker’s stock worth $39,000 after purchasing an additional 398 shares during the period. Finally, Allworth Financial LP boosted its position in Open Text by 20.7% during the fourth quarter. Allworth Financial LP now owns 2,564 shares of the software maker’s stock worth $73,000 after purchasing an additional 439 shares in the last quarter. Hedge funds and other institutional investors own 70.37% of the company’s stock.

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.