Open Text Cp (NASDAQ:OTEX):
OpenText Joins Dell EMC Select Partner Program.
The company is trading up from yesterday’s close of 33.18.
Open Text Corporation, launched on July 1, 2016, 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 software and services allow organizations to manage the information that flows into, out of, and throughout the enterprise as part of daily operations. Its solutions incorporate collaborative and mobile technologies and are delivered for on-premises deployment, as well as through cloud, hybrid and managed hosted services models. In addition, the Company provides solutions that facilitate the exchange of information and transactions that occur between supply chain participants, such as manufacturers, retailers, distributors and financial institutions, and are central to a Business’s ability to collaborate with its partners. Its EIM offerings include Enterprise Content Management (ECM), Business Process Management (BPM), Customer Experience Management (CEM), Business Network, Discovery and Analytics..
The company currently has a P/E ratio of 57.87 and market capitalization is 8.83B. In the latest earnings report the EPS was $0.58 with 265.29M shares outstanding.
Traders are feeling more bearish lately if you put credence in the motion in short interest. The stock recorded a rise in short interest of 1.41% between September 29, 2017 and October 13, 2017. Short interest increased from 7,159,328 to 7,260,034 over that timeframe. The days to cover increased to 19.0 and the percentage of shorted shares is 0.03% as of October 13.
Several Wall Street analysts have released opinions on Open Text Cp of late. BMO Capital Markets lowered the price target on November 3 changing the price objective from $40.00 to $38.00 with a “” recommendation. Equity analyst TD Securities raised the price target on November 3 boosting the projection from $38.00 to $40.00 and issued a “Buy” recommendation.
Equity analyst Barclays PLC raised the price target of the stock on November 3 changing the forecast from $54.00 to $55.00 and stated a “” rating. CIBC raised the price target of the stock on November 3 boosting the projection from $41.00 to $42.00 and issued a “” rating.
On October 30 Royal Bank Of Canada maintained a company rating of “Buy” projecting a price of $40.00. August 4 investment analysts at BMO Capital Markets held the company rating at “Outperform” targeting a price of $40.00.