Open Text Corporation engages in the designs, develops, markets, and sells information management software and solutions. It offers content services; business network that manages data within the organization and outside the firewall; security and protection solutions for defending against cyber threats, and preparing for business continuity and response in the event of a breach; digital investigation and forensic security solutions; OpenText security solutions to address information cyber resilience needs; Carbonite and Webroot products; and OpenText Information Management software platform. The company also provides Discovery platform that provides forensics and unstructured data analytics; OpenText Developer Cloud; key developer API services; AI and analytics that leverages structured or unstructured data; digital process automation solutions, which enables organizations to transform into digital data-driven businesses; and OpenText Digital Experience platform. In addition, it offers customer support programs, including access to software upgrades, a knowledge base, discussions, product information, and an online mechanism to post and review trouble tickets; and consulting and learning services relating to the implementation, training, and integration of its licensed product offerings, as well as cloud services. The company serves organizations, enterprise and mid-market companies, public sector agencies, small and medium-sized businesses, and direct consumers in Canada, the United States, the United Kingdom, Germany, rest of Europe, the Middle East, Africa, and internationally. It has strategic partnerships with SAP SE, Google Cloud, Amazon AWS, Microsoft Corporation, Oracle Corporation, Salesforce.com Corporation, Accenture plc, ATOS, Capgemini Technology Services SAS, Cognizant Technology Solutions U.S. Corp., Deloitte Consulting LLP, and Tata Consultancy Services. The company was incorporated in 1991 and is headquartered in Waterloo, Canada.
IPO Year: 1996
Exchange: NASDAQ
Website: opentext.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 12/17/2024 | $32.00 | Neutral | UBS |
| 11/1/2024 | $45.00 → $33.00 | Outperform → Sector Perform | RBC Capital Mkts |
| 8/2/2024 | Outperform → Sector Perform | National Bank Financial | |
| 5/3/2024 | $50.00 → $38.00 | Outperform → Market Perform | BMO Capital Markets |
| 2/27/2024 | $45.00 | Buy | Jefferies |
| 3/22/2023 | $41.00 | Equal Weight | Barclays |
| 9/1/2022 | $34.00 | Neutral | Citigroup |
| 8/26/2022 | Sector Outperform → Neutral | CIBC | |
| 8/6/2021 | $60.00 → $62.00 | Outperform | RBC Capital |
| 8/6/2021 | $56.00 → $57.00 | Equal-Weight | Barclays |
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WATERLOO, ON, Feb. 26, 2025 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX:OTEX), today announced Chadwick Westlake as Executive Vice President, Chief Financial Officer, effective March 5, 2025, to succeed Madhu Ranganathan. This appointment underscores the company's commitment to excellence and reinforces its top priorities on total revenue growth, increased competitive advantage, margin and free cash flow expansion, and upper quartile capital returns. Mr. Westlake is a highly experienced finance and transformation executive, previously serving as the Chief Financial Officer
WATERLOO, ON, Jan. 27, 2025 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX:OTEX), today announced the strategic appointment of Savinay Berry as EVP & Chief Product Officer for the global information management leader. Mr. Berry will lead a charter focused on products and innovation across the company's wide set of data-oriented domains to help drive growth. Further, Muhi Majzoub has taken on a new role as EVP, Security Products, increasing the company's focus and accelerating its opportunity in this critical market. Berry has deep experience leading technology and engineering
WATERLOO, ON, Nov. 26, 2024 /PRNewswire/ -- Open Text Corporation (NASDAQ:OTEX), (TSX:OTEX), today announced the appointment of Fletcher Previn to its board of directors. Mr. Previn is Senior Vice President & Chief Information Officer of Cisco Systems, Inc., a worldwide technology leader that connects a broad range of technologies that help to power, secure, and draw insights from the Internet. "I am very pleased to welcome Fletcher to the OpenText Board," said Tom Jenkins, Chair of the Board of Directors. "He is a highly qualified executive with over 20 years of experience in
Next-generation cloud, security, AI-integrated innovations unveiled at OpenText World 2024 WATERLOO, ON, Nov. 19, 2024 /PRNewswire/ -- OpenText™ (NASDAQ:OTEX), (TSX:OTEX) today unveiled Cloud Editions (CE) 24.4 at OpenText World 2024, presenting a suite of transformative advancements in Business Cloud, AI, and Technology to empower the future of AI-driven knowledge work. This release delivers secure, AI-integrated solutions that strengthen data connectivity, streamlines workflows, and enhances human potential—addressing the needs of forward-thinking CIOs and business leaders navigating multi-cloud environments.
New cloud, security, AI – integrated product innovations let the machines do the work to elevate human potential WATERLOO, Ontario, July 16, 2024 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX:OTEX) today announced its latest groundbreaking product innovations with Cloud Editions (CE) 24.3. This release represents a significant leap forward in integrating advanced information management capabilities, trusted cloud solutions, robust security measures, and cutting-edge artificial intelligence (AI) to optimize data performance for simpler, but superior, results. Today's CIOs are now navi
WATERLOO, ON, July 9, 2024 /PRNewswire/ -- Open Text Corporation (NASDAQ: OTEX), (TSX: OTEX), today announced the appointment of Annette Rippert to its board of directors. Ms. Rippert is a seasoned executive having served in key senior leadership roles at Accenture, including most recently as its Group Chief Executive – Strategy & Consulting until her retirement from Accenture. "I am pleased to welcome Annette to the OpenText Board," said Tom Jenkins, Chair of the Board of Directors. "She is a highly qualified executive with nearly 30 years' experience at a leading global prof
Company unveils its latest information management solutions, powered by AI and designed to catalyze business transformation through reimagining the way work is approached WATERLOO, ON, April 15, 2024 /PRNewswire/ -- OpenText™ (NASDAQ:OTEX), (TSX:OTEX), the information company, today announced Cloud Editions (CE) 24.2 at its OpenText World Europe conference April 15-18. OpenText's innovations combine trusted information management solutions and data strategies with advanced artificial intelligence (AI) capabilities to make work smarter, safer, and simpler. Titanium X is OpenT
WATERLOO, ON, April 8, 2024 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX:OTEX), today announced the strategic appointment of Todd Cione as President of OpenText Worldwide Sales, and announced the promotions of Paul Duggan as President and Chief Customer Officer, and Madhu Ranganathan as President, CFO & Corporate Development. Mr. Cione will lead a charter focused on spearheading the company's global go-to-market strategy and revenue growth, with OpenText's global sales and sales operations functions reporting directly to him. Mr. Duggan will lead a charter focused on custome
WATERLOO, Ontario, March 27, 2024 /PRNewswire/ -- OpenText™ (NASDAQ:OTEX), (TSX:OTEX), the information company, and X12, the ANSI-accredited standards organization, today announced the renewal of their commercial use partner license agreement. This long-standing collaboration underscores OpenText's commitment to and support for X12 standards across its expansive supply chain network. "Electronic data interchange (EDI) is a critical foundation that supports how supply chains and businesses function today," stated Muhi Majzoub, Chief Product Officer and EVP, OpenText. "Working
OpenText's Innovative Approach to Threat Intelligence Empowers Cyber Defenders and Strengthens U.S. Government Cybersecurity Resilience WATERLOO, ON, Feb. 13, 2024 /PRNewswire/ -- OpenText™ (NASDAQ:OTEX), (TSX:OTEX), has been named a member of the U.S. Government public-private cybersecurity initiative, Joint Cyber Defense Collaborative (JCDC). This collaborative effort, established by the Cybersecurity and Infrastructure Security Agency (CISA), is dedicated to elevating the cybersecurity posture of the U.S. government and its strategic international partners. "OpenText is hon
UBS initiated coverage of Open Text with a rating of Neutral and set a new price target of $32.00
RBC Capital Mkts downgraded Open Text from Outperform to Sector Perform and set a new price target of $33.00 from $45.00 previously
National Bank Financial downgraded Open Text from Outperform to Sector Perform
BMO Capital Markets downgraded Open Text from Outperform to Market Perform and set a new price target of $38.00 from $50.00 previously
Jefferies initiated coverage of Open Text with a rating of Buy and set a new price target of $45.00
Barclays resumed coverage of Open Text with a rating of Equal Weight and set a new price target of $41.00
Citigroup initiated coverage of Open Text with a rating of Neutral and set a new price target of $34.00
CIBC downgraded Open Text from Sector Outperform to Neutral
RBC Capital reiterated coverage of Open Text with a rating of Outperform and set a new price target of $62.00 from $60.00 previously
Barclays reiterated coverage of Open Text with a rating of Equal-Weight and set a new price target of $57.00 from $56.00 previously
Announces Expansion and Final Phase of Business Optimization Plan Fiscal 2025 Third Quarter Highlights (in millions(1)) Cloud Revenues Profitability EPS Cash Flows Net Income A-EBITDA GAAP Non-GAAP Operating Free Cash Flows $463 $93 $395 $0.35 $0.82 $402 $374 +1.8% Y/Y 7.4% margin 31.5% margin -2.8% Y/Y -12.8% Y/Y +4.6% Y/Y +7.4% Y/Y "On the strength of our operating model, OpenText delivered solid Q3 Cloud revenues, A-EBITDA margin and free cash flows, however, total revenues fell short of our expectations given demand volatility," said Mark J. Barrenechea, OpenText CEO & CTO. "While every organization is managing significant uncertainty, we continue to prove the criticality of OpenText p
WATERLOO, ON, April 9, 2025 /PRNewswire/ -- Open Text Corporation (NASDAQ:OTEX), (TSX:OTEX), announced today that financial results for its third quarter fiscal year 2025 will be released after the close of market on Wednesday, April 30, 2025. In a new approach, OpenText CEO & CTO Mark J. Barrenechea, and EVP & CFO Chadwick Westlake, will host an earnings call webcast the following morning from the OpenText Investor Relations website. Earnings Call Webcast Details: Date: Thursday, May 1, 2025 Time: 8:30 a.m. ET / 5:30 a.m. PT Length: 60 minutes Webcast: Access on OpenText IR w
WATERLOO, ON, March 13, 2025 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX:OTEX) (the Company), today announced that it has increased its previously announced Fiscal 2025 normal course issuer bid (NCIB) by US$150 million, to purchase for cancellation up to a maximum aggregate value of US$450 million of its common shares (Common Shares). The maximum number of Common Shares that may be acquired under the NCIB will remain unchanged at the 21,179,064 Common Shares previously approved by the Toronto Stock Exchange (TSX). Further, as part of the NCIB, it has established an automatic share purchase plan (ASPP) with its broker to facilitate repurchases of the Common Shares.
Total Revenues of $1.335B, 16 Consecutive Quarters of Cloud Organic Growth Delivers Net Income Margin of 17%, Robust Adjusted EBITDA Margin of 37.6% GAAP EPS of $0.87, Non-GAAP EPS of $1.11 Operating Cash Flows of $348M and Free Cash Flows of $307M Fiscal 2025 Second Quarter Highlights Total Revenues (in millions) Annual Recurring Revenues (in millions) Cloud Revenues (in millions) $1,335 $1,053 $462 (13.1) % (8.1) % +2.7 % Annual Recurring Revenues represent 79% of Total Revenues "OpenText's Q2 results demonstrate the strength of our operating model, delivering $501 million of adjusted EBITDA, and 37.6% adjusted EBITDA margin, and generating $307 million of Free Cash Flows (FCF). The Comp
WATERLOO, ON, Jan. 13, 2025 /PRNewswire/ -- Open Text Corporation (NASDAQ:OTEX), (TSX:OTEX), announced today that financial results for its second quarter fiscal year 2025 will be released on Thursday, February 6, 2025, at approximately 4:00 p.m. ET. OpenText to Host Conference Call WebcastMark J. Barrenechea, OpenText CEO & CTO and Madhu Ranganathan, OpenText President, CFO & Corporate Development will host a conference call webcast on February 6, 2025, at 5:00 p.m. ET from its Investor Relations website. Date: Thursday, February 6, 2025 Time: 5:00 p.m. ET / 2:00 p.m. PT Le
Total Revenues of $1.27B, 15 Consecutive Quarters of Cloud Organic GrowthDelivers Net Income Margin of 7%, Robust Adjusted EBITDA Margin of 35.0%GAAP EPS of $0.32, Non-GAAP EPS of $0.93Purchased and Canceled 7.72M Shares Over the Last Two Quarters Fiscal 2025 First Quarter Highlights Total Revenues (in millions) Annual Recurring Revenues (in millions) Cloud Revenues (in millions) $1,269 $1,053 $457 (11.0) % (8.4) % +1.3 % Annual Recurring Revenues represent 83% of Total Revenues "In our first full quarter after the AMC divestiture, we delivered $1.27 billion in total revenues, 35% Adjusted EBITDA Margin, and our 15th consecutive quarter of organic cloud revenue growth," said Mark J. Barr
WATERLOO, ON, Oct. 9, 2024 /PRNewswire/ -- Open Text Corporation (NASDAQ:OTEX), (TSX:OTEX), announced today that financial results for its first quarter fiscal year 2025 will be released on Thursday, October 31, 2024, at approximately 7:00 a.m. ET. OpenText to Host Conference Call WebcastMark J. Barrenechea, OpenText CEO & CTO and Madhu Ranganathan, OpenText President, CFO & Corporate Development will host a conference call webcast on October 31, 2024, at 9:00 a.m. ET from its Investor Relations website. Date: Thursday, October 31, 2024 Time: 9:00 a.m. ET/6:00 a.m. PT Length:
– Delivers Total Annual Revenues of $5.8 Billion with 29% Growth –– Announces New $300 Million Share Repurchase Program –– Increases Annualized Dividend By 5% – Fiscal 2024 Annual Highlights Y/Y Total Revenues (in millions) Annual Recurring Revenues (in millions) Cloud Revenues (in millions) Reported Constant Currency Reported Constant Currency Reported Constant Currency $5,770 $5,729 $4,534 $4,506 $1,821 $1,816 +28.6 % +27.7 % +25.4 % +24.6 % +7.1 % +6.8 % Annual Recurring Revenues represent 79% of Total Revenues "OpenText delivered solid Fiscal 2024 financial results with total revenues of $5.8 billion, representing a 29% year-over-year growth, we grew organically, and delivered $2 bil
WATERLOO, ON, July 10, 2024 /PRNewswire/ -- Open Text Corporation (NASDAQ:OTEX), (TSX:OTEX), announced today that financial results for its fourth quarter fiscal year 2024 will be released on Thursday, August 1, 2024, at approximately 4:00 p.m. ET. OpenText to Host Conference Call WebcastMark J. Barrenechea, OpenText CEO & CTO and Madhu Ranganathan, OpenText President, CFO & Corporate Development will host a conference call webcast on August 1, 2024, at 5:00 p.m. ET from its Investor Relations website. Date: Thursday, August 1, 2024 Time: 5:00 p.m. ET/2:00 p.m. PT Length: 60
Record Q3 Total Revenues and Enterprise Cloud Bookings Announces $250 Million Share Repurchase Program Fiscal 2024 Third Quarter Highlights Total Revenues (in millions) Annual Recurring Revenues (in millions) Cloud Revenues (in millions) Reported Constant Currency Reported Constant Currency Reported Constant Currency $1,447 $1,444 $1,146 $1,143 $455 $454 +16.3 % +16.0 % +13.3 % +13.1 % +4.4 % +4.4 % Annual Recurring Revenues represent 79% of Total Revenues Total revenues of $1.447 billion, up 16.3% Y/Y or up 16.0% in constant currency (CC)Annual Recurring Revenues (ARR) of $1.146 billion, up 13.3% Y/Y or up 13.1% in CCCloud revenues of $455 million, up 4.4% Y/Y and up 4.4% in CCQuarterly ent
Announces Expansion and Final Phase of Business Optimization Plan Fiscal 2025 Third Quarter Highlights (in millions(1)) Cloud Revenues Profitability EPS Cash Flows Net Income A-EBITDA GAAP Non-GAAP Operating Free Cash Flows $463 $93 $395 $0.35 $0.82 $402 $374 +1.8% Y/Y 7.4% margin 31.5% margin -2.8% Y/Y -12.8% Y/Y +4.6% Y/Y +7.4% Y/Y "On the strength of our operating model, OpenText delivered solid Q3 Cloud revenues, A-EBITDA margin and free cash flows, however, total revenues fell short of our expectations given demand volatility," said Mark J. Barrenechea, OpenText CEO & CTO. "While every organization is managing significant uncertainty, we continue to prove the criticality of OpenText p
WATERLOO, ON, April 15, 2025 /PRNewswire/ -- OpenText™ today announced its participation at RSA Conference 2025, the premier cybersecurity event in North America. Aligned with this year's theme — Unite. Innovate. Shine. Many Voices. One Community. — OpenText Cybersecurity will spotlight how organizations can strengthen cyber resilience through AI-powered threat detection, integrated security, and intelligent risk management. Modern threats require modern solutions.Attendees are invited to connect with OpenText experts to explore how to protect, detect, and respond to today's m
BMO and Catalent Pharma Solutions Partner with OpenText to Transform Business Operations and Drive Innovation WATERLOO, ON, April 14, 2025 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX:OTEX) the leader Information Management, helps organizations solve complex global problems and impactful transformation with a comprehensive suite of Business Clouds, Business AI and Business Technology including Security. With innovative information management solutions, including the availability of its latest flagship OpenText Cloud Editions 25.2, OpenText is helping organizations create a new digital labor force and raise human potential and productivity.
WATERLOO, ON, April 9, 2025 /PRNewswire/ -- Open Text Corporation (NASDAQ:OTEX), (TSX:OTEX), announced today that financial results for its third quarter fiscal year 2025 will be released after the close of market on Wednesday, April 30, 2025. In a new approach, OpenText CEO & CTO Mark J. Barrenechea, and EVP & CFO Chadwick Westlake, will host an earnings call webcast the following morning from the OpenText Investor Relations website. Earnings Call Webcast Details: Date: Thursday, May 1, 2025 Time: 8:30 a.m. ET / 5:30 a.m. PT Length: 60 minutes Webcast: Access on OpenText IR w
WATERLOO, ON, April 1, 2025 /PRNewswire/ -- OpenText™ (NASDAQ:OTEX), (TSX:OTEX), today introduced the availability of Project Titanium X, now ready with Cloud Editions 25.2 (CE 25.2), the culmination of two years of strategic engineering powering the next generation of Business Clouds, Business AI and Business Technology. Cloud Editions 25.2 brings together a comprehensive set of enterprise capabilities for process automation, data, security and AI. OpenText CE 25.2 will help organizations of all sizes create new paths for growth and productivity, next generation cloud and s
Global business and technology leaders convene to explore how Business AI, Business Clouds, and Business Security are redefining enterprise growth and operations WATERLOO, ON, March 27, 2025 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX:OTEX) today announced its return to the United Kingdom and Europe for OpenText Summit London 2025 on April 1 and OpenText Summit Munich on April 3, 2025, with OpenText CEO & CTO Mark J. Barrenechea keynoting both Summits. These premier events will bring together IT decision-makers, industry leaders, and technology experts to explore the latest breakthroughs in information management and AI that are driving massive growth and productivity enhancements for the
WATERLOO, ON, March 13, 2025 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX:OTEX) (the Company), today announced that it has increased its previously announced Fiscal 2025 normal course issuer bid (NCIB) by US$150 million, to purchase for cancellation up to a maximum aggregate value of US$450 million of its common shares (Common Shares). The maximum number of Common Shares that may be acquired under the NCIB will remain unchanged at the 21,179,064 Common Shares previously approved by the Toronto Stock Exchange (TSX). Further, as part of the NCIB, it has established an automatic share purchase plan (ASPP) with its broker to facilitate repurchases of the Common Shares.
WATERLOO, ON, Feb. 27, 2025 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX:OTEX) will showcase its industry-leading ability to deliver secure communications, streamlined workflows and exceptional patient experiences to healthcare providers at the Healthcare Information and Management Systems Society Conference (HIMSS) 2025 in Las Vegas, March 3-6. Providers are facing myriad challenges and strong economic pressures, including fragmented communications across providers; paper-based administrative workflows; and rising ransomware threats. Inefficient data management is also a co
WATERLOO, ON, Feb. 26, 2025 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX:OTEX), today announced Chadwick Westlake as Executive Vice President, Chief Financial Officer, effective March 5, 2025, to succeed Madhu Ranganathan. This appointment underscores the company's commitment to excellence and reinforces its top priorities on total revenue growth, increased competitive advantage, margin and free cash flow expansion, and upper quartile capital returns. Mr. Westlake is a highly experienced finance and transformation executive, previously serving as the Chief Financial Officer
New Webroot Total Protection safeguards personal and financial information WATERLOO, ON, Feb. 25, 2025 /PRNewswire/ -- OpenText™ (NASDAQ:OTEX), (TSX:OTEX) today announced Webroot Total Protection, an all-in-one cybersecurity solution built to go beyond traditional device security to deliver comprehensive digital life protection for individuals and families. With identity protection, VPN, parental controls, and unlimited cloud backup, users can safeguard their data, privacy, and online activities—all from a single, seamless platform. With the rise of cyber threats targeting con
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