Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.
Trade-Ideas LLC identified
) as a new lifetime high candidate. In addition to specific proprietary factors, Trade-Ideas identified Open Text as such a stock due to the following factors:
- OTEX has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $12.0 million.
- OTEX has traded 73,063 shares today.
- OTEX is trading at a new lifetime high.
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More details on OTEX:
Open Text Corporation engages in the design, development, marketing, and sale of enterprise information management software and solutions. The stock currently has a dividend yield of 1.4%. OTEX has a PE ratio of 33.3. Currently there are 7 analysts that rate Open Text a buy, no analysts rate it a sell, and 3 rate it a hold.
The average volume for Open Text has been 243,000 shares per day over the past 30 days. Open Text has a market cap of $5.8 billion and is part of the technology sector and computer software & services industry. The stock has a beta of 1.44 and a short float of 6.7% with 18.05 days to cover. Shares are up 3.3% year-to-date as of the close of trading on Tuesday.
rates Open Text as a
. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and reasonable valuation levels. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.
Highlights from the ratings report include:
- The revenue growth came in higher than the industry average of 10.5%. Since the same quarter one year prior, revenues rose by 31.1%. Growth in the company's revenue appears to have helped boost the earnings per share.
- Powered by its strong earnings growth of 72.72% and other important driving factors, this stock has surged by 33.25% over the past year, outperforming the rise in the S&P 500 Index during the same period. Regarding the stock's future course, although almost any stock can fall in a broad market decline, OTEX should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
- OPEN TEXT CORP reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. During the past fiscal year, OPEN TEXT CORP increased its bottom line by earning $1.26 versus $1.07 in the prior year.
- The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Software industry. The net income increased by 77.8% when compared to the same quarter one year prior, rising from $25.81 million to $45.88 million.
- You can view the full Open Text Ratings Report.