Somewhat Positive News Coverage Somewhat Unlikely to Affect Open Text (OTEX) Share Price

News articles about Open Text (NASDAQ:OTEX) (TSE:OTC) have trended somewhat positive this week, Accern reports. The research group identifies positive and negative news coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Open Text earned a daily sentiment score of 0.13 on Accern’s scale. Accern also gave press coverage about the software maker an impact score of 46.265445091271 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.

These are some of the news stories that may have effected Accern Sentiment’s scoring:

Open Text (NASDAQ OTEX) traded up $0.02 during trading hours on Friday, hitting $33.81. 410,138 shares of the company were exchanged, compared to its average volume of 636,975. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.74 and a quick ratio of 0.74. The stock has a market cap of $8,980.00, a PE ratio of 58.29 and a beta of 0.44. Open Text has a 1 year low of $30.88 and a 1 year high of $35.80.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 20th. Investors of record on Friday, December 1st were given a dividend of $0.132 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 1.56%. Open Text’s payout ratio is currently 91.38%.

A number of analysts have recently issued reports on the stock. BidaskClub downgraded shares of Open Text from a “hold” rating to a “sell” rating in a report on Tuesday. Mitsubishi UFJ Financial Group reaffirmed an “overweight” rating on shares of Open Text in a research report on Thursday, November 2nd. Raymond James Financial cut shares of Open Text to an “underperform” rating and set a $40.00 price objective for the company. in a research report on Wednesday, November 22nd. Macquarie lowered their price objective on shares of Open Text from $43.00 to $40.00 in a research report on Thursday, November 23rd. Finally, CIBC increased their price objective on shares of Open Text from $41.00 to $42.00 in a research report on Friday, November 3rd. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. Open Text currently has an average rating of “Hold” and a consensus target price of $42.27.

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Open Text 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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