Fintel reports that on December 17, 2024, UBS initiated coverage of Open Text (NasdaqGS:OTEX) with a Neutral recommendation.
Analyst Price Forecast Suggests 43.00% Upside
As of December 3, 2024, the average one-year price target for Open Text is $42.29/share. The forecasts range from a low of $33.88 to a high of $51.84. The average price target represents an increase of 43.00% from its latest reported closing price of $29.57 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Open Text is 3,740MM, a decrease of 33.37%. The projected annual non-GAAP EPS is 3.27.
What is the Fund Sentiment?
There are 484 funds or institutions reporting positions in Open Text. This is an increase of 26 owner(s) or 5.68% in the last quarter. Average portfolio weight of all funds dedicated to OTEX is 0.26%, an increase of 5.83%. Total shares owned by institutions increased in the last three months by 0.63% to 196,760K shares. 
The put/call ratio of OTEX is 0.65, indicating a bullish outlook.
What are Other Shareholders Doing?
Jarislowsky, Fraser holds 16,590K shares representing 6.28% ownership of the company. In its prior filing, the firm reported owning 15,703K shares , representing an increase of 5.35%. The firm increased its portfolio allocation in OTEX by 8.00% over the last quarter.
Harris Associates L P holds 12,804K shares representing 4.84% ownership of the company. In its prior filing, the firm reported owning 12,890K shares , representing a decrease of 0.67%. The firm decreased its portfolio allocation in OTEX by 16.61% over the last quarter.
Royal Bank Of Canada holds 10,684K shares representing 4.04% ownership of the company. In its prior filing, the firm reported owning 13,590K shares , representing a decrease of 27.20%. The firm decreased its portfolio allocation in OTEX by 21.92% over the last quarter.
OAKIX - Oakmark International Fund Investor Class holds 9,844K shares representing 3.72% ownership of the company. In its prior filing, the firm reported owning 9,882K shares , representing a decrease of 0.39%. The firm increased its portfolio allocation in OTEX by 10.13% over the last quarter.
Beutel, Goodman & Co holds 8,347K shares representing 3.16% ownership of the company. In its prior filing, the firm reported owning 8,457K shares , representing a decrease of 1.32%. The firm increased its portfolio allocation in OTEX by 1.59% over the last quarter.
Open Text Background Information
(This description is provided by the company.)
OpenText, The Information Company™, enables organizations to gain insight through market leading information management solutions, on-premises or in the cloud.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
