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 |
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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 |
6/30/2021 | $56.00 | Overweight → Equal-Weight | Barclays |
3 - OPEN TEXT CORP (0001002638) (Reporting)
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
Barclays downgraded Open Text from Overweight to Equal-Weight and set a new price target of $56.00
Raymond James reiterated coverage of Open Text with a rating of Outperform and set a new price target of $55.00 from $49.00 previously
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As generative AI usage becomes more widespread, two-thirds of respondents expressed concern about AI systems collecting their data WATERLOO, ON, Oct. 3, 2024 /PRNewswire/ -- OpenText™ (NASDAQ:OTEX), (TSX:OTEX) today released the results of Webroot's 2024 GenAI Consumer Trends and Privacy Report. The survey of over 1,000 U.S. consumers found that 39% of consumers use generative AI at least weekly, but significant privacy concerns persist, especially among parents. Additionally, while consumers have taken steps to protect their personal information, only 27% use privacy tools and settings to protect workplace information when using generative AI.
Adversaries are taking advantage of weak security fundamentals and a lack of countermeasures to carry out cyberattacks WATERLOO, ON, Sept. 27, 2024 /PRNewswire/ -- OpenText™ (NASDAQ:OTEX), (TSX:OTEX) today released the results of its 2024 Threat Hunter Perspective. The report found that the collaboration and coordination taking place between nation-states and cybercrime rings to target global supply chains and further geopolitical motives has become a signature trend in the threat landscape. For CISOs, the question isn't whether attacks will happen, but what form they'll take
WATERLOO, ON, Sept. 12, 2024 /PRNewswire/ -- Open Text Corporation (NASDAQ:OTEX, TSX:OTEX) confirmed today that the nominees listed below were re-elected by shareholders at its annual meeting of shareholders (the "Meeting") held virtually today. The detailed results of the vote for the election of directors at the Meeting are set out below. Shareholders holding 221,529,725 common shares of the Company representing 82.60% of the outstanding common shares were present or represented by proxy at the Meeting. On a vote by ballot, the following nominees were elected as a director o
New FedRAMP authorized solution provides government organizations a simpler way to deliver IT services WATERLOO, ON, Sept. 11, 2024 /PRNewswire/ -- OpenText (NASDAQ:OTEX, TSX:OTEX) today announced it has received authorization for the OpenText IT Management Platform (ITMX) from the Federal Risk and Authorization Management Program (FedRAMP®), advancing OpenText's commitment to providing comprehensive and modern, government-compliant and secure cloud solutions. With ITMX, government agencies can reduce Tier 1 support costs with a full-featured IT service management (ITSM) platform that is less complex and costly to deploy and manage than competitors, while accelerating application delivery th
Virtual Summit to Feature Industry Experts and Deep-Dive Sessions on the Latest AI-enabled DevSecOps Trends WATERLOO, ON, Sept. 10, 2024 /PRNewswire/ -- OpenText™ (NASDAQ:OTEX, TSX:OTEX), is excited to announce the upcoming OpenText DevSecOps Virtual Summit 2024, a premier virtual event designed for developers, security professionals and technology leaders focused on the intersection of development and security. Scheduled for Sept. 24, 2024, this summit brings together global experts to explore the latest trends, challenges and innovations in DevSecOps. The summit offers an un
WATERLOO, ON, Sept. 9, 2024 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX) (TSX:OTEX) today announced that OpenText has been named a Leader in the IDC MarketScape: Worldwide Intelligent Content Services2024 Vendor Assessment (doc #US51467323, September 2024). According to the IDC MarketScape, "OpenText Content Cloud connects content to the digital business, eliminating silos and providing convenient, secure, and compliant remote access to both structured and unstructured data capabilities. Capabilities include IDP, process automation, information archiving, security and governance,
Virtual Summit to Feature Renowned Customer Speakers and In-Depth Sessions on the Future of Data Analytics WATERLOO, ON, Sept. 6, 2024 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX:OTEX), today announced the upcoming OpenText Analytics Digital Summit 2024, a premier virtual event that brings together industry leaders, data experts and technology innovators from around the globe. This year's Summit, which will be held Sept. 10-11, highlights the transformative power of AI and analytics, featuring a distinguished lineup of customer speakers and a series of in-depth sessions focused on real-world applications and success stories.
This strategic partnership aims to streamline compliance with Germany's evolving e-invoicing mandates through OpenText's advanced cloud solutions WATERLOO, ON, Sept. 5, 2024 /PRNewswire/ -- Nippon Gases Deutschland, the German business unit of Nippon Sanso Holdings Corporation (NSHD) an industrial and medical gases company, is partnering with OpenText™ (NASDAQ: OTEX), (TSX:OTEX), to expedite the implementation of mandatory B2B e-invoicing in Germany, ahead of the January 1, 2025 deadline. By leveraging OpenText™ Active Invoices with Compliance, Nippon Gases Deutschland will equip its tax and invoicing teams with innovative tools to confidently navigate, document, and manage the complexities
Upstream oil and gas company uses OpenText to streamline engineering information and accelerate time to completion while reducing risk WATERLOO, Ontario, Aug. 19, 2024 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX:OTEX) today announced that Serica Energy, an independent British upstream oil and gas company with operations centered on the UK North Sea, has selected OpenText Content Cloud™ and OpenText Extended ECM for Engineering™ as strategic solutions to efficiently control engineering information, work processes, and risk across the lifecycle of projects and operations, while accelerating operational efficiencies.
OpenText™ DevOps Aviator reduces manual testing time, boosts coverage, and accelerates development cycles, enhancing Pick n Pay's digital services WATERLOO, Ontario, Aug. 12, 2024 /PRNewswire/ -- Pick n Pay Group, a leading retailer with over 1,650 stores across seven African countries, has partnered with OpenText™ (NASDAQ: OTEX), (TSX:OTEX) to supercharge its software testing processes. By leveraging generative-AI and private large language models (LLM), Pick n Pay has automated 95% of its software testing, cutting testing times by up to three days and significantly improving its digital services for ecommerce customers.
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
WATERLOO, ON, Jan. 8, 2024 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX:OTEX), today announced the strategic appointment of Denise Miura as SVP & President of OpenText Japan for the Canadian-based information management and AI company. Ms. Miura will lead a charter focused on spearheading the company's growth in the region. Miura has deep experience working in the Japan region for global software leaders in enterprise data and insights management, having ran the Japan operations at both MarkLogic and Medallia. In recent years, OpenText has grown significantly to bring a wide
WATERLOO, ON, Dec. 6, 2023 /PRNewswire/ -- Open Text Corporation (NASDAQ: OTEX), (TSX: OTEX), today announced the appointment of Goldy Hyder to its board of directors. Mr. Hyder is President and Chief Executive Officer of the Business Council of Canada, a non-profit, non-partisan organization composed of the chief executives and entrepreneurs of Canada's leading companies, whose members collectively employ approximately two million Canadians in every major industry. "Goldy brings very strong public and international policy perspectives to our Board," said Tom Jenkins, Chair of
Company introduces OpenText Aviator AI capabilities in Cloud Editions 23.4 WATERLOO, ON, Oct. 11, 2023 /PRNewswire/ -- OpenText™ (NASDAQ:OTEX), (TSX:OTEX), the information company, today announced the latest release of its Cloud Editions (CE) 23.4, which includes OpenText Aviator artificial intelligence (AI) capabilities that carry through the company's innovation roadmap. For over a decade, OpenText has been helping organizations manage and secure large complex data sets from IoT and robotics, to natural language processing, to complex systems and generative AI. OpenText Aviator empowers organizations to swiftly act on their data, make sharp decisions and evolve with intelligent tools that
X1 welcomes eDiscovery, compliance, and cybersecurity industries leader as its new chief executive officer to further accelerate growth and innovation X1®, the global leader in remote, in-place eDiscovery and compliance software, today announced the appointment of Larry Gill as the company's new chief executive officer. Gill brings over 20 years of in-depth technology and eDiscovery experience to X1 having previously served on its strategic advisory board and driving growth and technology innovation in the eDiscovery, GRC and cybersecurity industries. "Larry is an exceptional leader with a proven track record in both private and public corporations achieving consistent revenue growth year
– 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
WATERLOO, ON, April 9, 2024 /PRNewswire/ -- Open Text Corporation (NASDAQ:OTEX), (TSX:OTEX), announced today that financial results for its third quarter fiscal year 2024 will be released on Thursday, May 2, 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 May 2, 2024, at 5:00 p.m. ET from its Investor Relations website. Date: Thursday, May 2, 2024 Time: 5:00 p.m. ET/2:00 p.m. PT Length: 60 minutes W
Record Total Revenues of $1.535 billion Up 71% Y/Y Record Enterprise Cloud Bookings Fiscal 2024 Second Quarter Highlights Total Revenues (in millions) Annual Recurring Revenues (in millions) Cloud Revenues (in millions) Reported ConstantCurrency Reported ConstantCurrency Reported ConstantCurrency $1,535 $1,509 $1,146 $1,128 $450 $446 +71.0 % +68.2 % +58.0 % +55.6 % +10.1 % +9.2 % Annual Recurring Revenues represent 75% of Total Revenues Record total revenues of $1.535 billion, up 71.0% Y/Y or up 68.2% in constant currency (CC)Annual Recurring Revenues (ARR) of $1.146 billion, up 58.0% Y/Y or up 55.6% in CCCloud revenues of $450 million, up 10.1% Y/Y or up 9.2% in CCRecord quarterly enterpri
WATERLOO, Ontario, Jan. 10, 2024 /PRNewswire/ -- Open Text Corporation (NASDAQ:OTEX), (TSX:OTEX), announced today that financial results for its second quarter fiscal year 2024 will be released on Thursday, February 1, 2024, at approximately 4:00 p.m. ET. Teleconference CallMark J. Barrenechea, OpenText CEO & CTO and Madhu Ranganathan, OpenText EVP, CFO will host a conference call on February 1, 2024, at 5:00 p.m. ET to discuss the company's financial results. Date: Thursday, February 1, 2024 Time: 5:00 p.m. ET/2:00 p.m. PT Length: 60 minutes Call-me: Use this Call Me link to
OpenText to Focus on Cloud and AI Opportunity Within Information Management WATERLOO, ON, Nov. 28, 2023 /PRNewswire/ -- Open Text Corporation (NASDAQ:OTEX), (TSX:OTEX), today announced that it has reached a definitive agreement to divest its AMC business to Rocket Software, Inc., a Bain Capital portfolio company ("Rocket Software"), for US$2.275 billion in cash. OpenText's AMC business provides market leading mainframe modernization and connectivity software to more than 10,000 customers enabling them to run mission-critical business applications in hybrid cloud environments. Benefits of the transaction include:
WATERLOO, ON, Oct. 10, 2023 /PRNewswire/ -- Open Text Corporation (NASDAQ:OTEX), (TSX:OTEX), announced today that financial results for its first quarter fiscal year 2024 will be released on Thursday, November 2, 2023, at approximately 4:00 p.m. ET. Teleconference CallMark J. Barrenechea, OpenText CEO & CTO and Madhu Ranganathan, OpenText EVP, CFO will host a conference call on November 2, 2023, at 5:00 p.m. ET to discuss the company's financial results. Also joining the call will be Paul Duggan, OpenText EVP, Chief Customer Officer. Date: Thursday, November 2, 2023 Time: 5:00 p.m. ET/2:00 p.m. PT Length: 60 minutes Dial-in: 1-800-319-4610 (toll-free)+1-604-638-5340 (international) Investor
Reports Record Total Revenues of $4.5 Billion with 28% Growth Fiscal 2023 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 $4,485 $4,617 $3,615 $3,718 $1,700 $1,739 +28.4 % +32.2 % +26.2 % +29.7 % +10.8 % +13.3 % Annual Recurring Revenues represent 81% of Total Revenues Total revenues of $4.5 billion up 28.4% Y/Y or up 32.2% Y/Y in constant currency (CC)Annual Recurring Revenues (ARR) of $3.6 billion, up 26.2% Y/Y or up 29.7% Y/Y in CCCloud revenues of $1.7 billion up 10.8% Y/Y or up 13.3% Y/Y in CCFY'23 enterprise cloud bookings(1) of $528
WATERLOO, ON, July 10, 2023 /PRNewswire/ -- Open Text Corporation (NASDAQ:OTEX), (TSX:OTEX), announced today that financial results for its fourth quarter fiscal year 2023 will be released on Thursday, August 3, 2023, at approximately 4:00 p.m. ET. Teleconference CallMark J. Barrenechea, OpenText CEO & CTO, and Madhu Ranganathan, OpenText EVP, CFO will host a conference call on August 3, 2023, at 5:00 p.m. ET to discuss the company's financial results. Date: Thursday, August 3, 2023 Time: 5:00 p.m. ET/2:00 p.m. PT Length: 60 minutes Dial-in: 1-800-319-4610 (toll-free)+1-604-63
CIBC analyst Stephanie Price maintains Open Text (NASDAQ:OTEX) with a Neutral and lowers the price target from $36 to $33.
Citigroup analyst Steven Enders maintains Open Text (NASDAQ:OTEX) with a Neutral and lowers the price target from $37 to $32.
CIBC analyst Stephanie Price maintains Open Text (NASDAQ:OTEX) with a Neutral and lowers the price target from $38.5 to $36.
Open Text Corporation (NASDAQ:OTEX), (TSX:OTEX), today announced that it has purchased Pillr, an MDR platform from Novacoast, Inc.Pillr technology is a cloud native, multi-tenant MDR platform for Managed Service Providers (MSPs) that includes Managed Detection and Response and powerful threat-hunting capabilities. This combination of Pillr technology and OpenText security expertise provides enhanced threat hunting, monitoring, and response for customers where skill gaps, skill shortages, and alert fatigue create a significant need today.The acquisition accelerates OpenText's Cybersecurity product roadmap to offer key features including API integrations and product/pricing bundling for MSPs s
Open Text Corporation (NASDAQ:OTEX), (TSX:OTEX) today announced that, as previously indicated, it completed its $2 billion debt reduction using the net proceeds from its AMC divestiture, which reflects $940 million paid to terminate the Company's Term Loan B due 2025 and $1.06 billion to reduce amounts outstanding under its Acquisition Term Loan due 2030.
Barclays analyst Raimo Lenschow maintains Open Text (NASDAQ:OTEX) with a Equal-Weight and lowers the price target from $44 to $38.
U.S. stock futures were higher this morning, with the Dow futures gaining over 250 points on Friday. Shares of Stem, Inc. (NYSE:STEM) shares fell sharply in today's pre-market trading after the company reported worse-than-expected first-quarter financial results and cut its FY24 revenue guidance. Stem posted a quarterly loss of 46 cents per share, versus market expectations for a loss of 21 cents per share. The company's quarterly sales came in at $25.47 million missing estimates of $57.11 million, according to data from Benzinga Pro. Stem shares dipped 18.7% to $1.55 in pre-market trading in pre-market trading. Here are some big stocks recording losses in today's pre-market trad
BMO Capital analyst Thanos Moschopoulos downgrades Open Text (NASDAQ:OTEX) from Outperform to Market Perform and lowers the price target from $50 to $38.