Dundee Upgrades Open Text Corporation (USA) to Buy

Brokerage firm Dundee Upgrades its rating on Open Text Corporation (USA)(NASDAQ:OTEX). The shares have been rated Buy. Previously, the analysts had a Neutral rating on the shares. The rating by Dundee was issued on Sep 12, 2016.

Open Text Corporation (USA) (OTEX) made into the market gainers list on Tuesdays trading session with the shares advancing 0.63% or 0.41 points. Due to strong positive momentum, the stock ended at $65.41, which is also near the day’s high of $66.05. The stock began the session at $65.53 and the volume stood at 1,50,641 shares. The 52-week high of the shares is $66.67 and the 52 week low is $41.93. The company has a current market capitalization of $7,944 M and it has 12,14,43,442 shares in outstanding.

Open Text Corporation (USA)(OTEX) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q4.Company reported revenue of $483.80M. Analysts had an estimated revenue of $482.67M. Earnings per share were $0.89. Analysts had estimated an EPS of $0.94.

Open Text Corporation is a Canada-based company operating in enterprise information market (EIM). The Company provides software products and services to organizations in finding utilizing and sharing business information. The Company’s products and services include enterprise content management (ECM) business process management (BPM) customer experience management (CEM) information exchange (iX) discovery and analytics and reporting. Its ECM solutions include content management archiving and core among others. Its BPM solutions include process suite platform capture and recognition systems and process suite solutions. Its CEM solutions include Web content management digital asset management and portal. Its iX solutions include business-to-business (B2B) integration fax solutions and secure messaging. Its discovery solutions include search and InfoFusion. Its analytics and reporting solutions include embedded analytics and reporting and advanced analytics.

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