Open Text (OTEX) Trading Up 13.9%

Open Text Corp (TSE:OTEX) (NASDAQ:OTEX)’s share price was up 13.9% during trading on Thursday . The company traded as high as C$49.49 and last traded at C$47.97. Approximately 2,185,736 shares changed hands during mid-day trading, an increase of 250% from the average daily volume of 623,701 shares. The stock had previously closed at C$42.12.

A number of equities analysts have recently commented on OTEX shares. Macquarie cut their price objective on Open Text from C$43.00 to C$40.00 in a report on Thursday, November 23rd. BMO Capital Markets set a C$42.00 price objective on Open Text and gave the stock an “outperform” rating in a report on Thursday. Six analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus target price of C$44.00.

The company has a market capitalization of $12,620.00, a P/E ratio of 66.87 and a beta of 0.07.

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Open Text Company Profile

Open Text Corporation provides a suite of software products and services that assist organizations in finding, utilizing, and sharing business information from various devices. The company offers content solutions that provide content and records management, archiving, and email management and capture solutions, as well as Core, a software as a service based multi-tenant cloud solution; business process management for analyzing, automating, monitoring, and optimizing structured business processes; and customer experience management products, which offer Web content management, digital asset management, customer communications management, social software, and portal.

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