Open Text Corp Stock Price, News & Analysis

OpenText Corporation (OTEX) reported record annual revenues of $3.39 billion for fiscal 2021, up 8.9% year-over-year, driven by cloud revenue growth of 21.6% to $1.4 billion. Annual recurring revenues reached $2.74 billion, representing 81% of total revenues. GAAP net income rose by 32.6% to $310.7 million with a margin of 9.2%. The company repurchased 2.5 million shares for $119.1 million and increased its quarterly dividend by 10% to $0.2209 per share, signaling a strong commitment to returning value to shareholders.

OpenText (NASDAQ: OTEX) has introduced a new offering, OpenText Advisory Services, aimed at assisting organizations in maximizing their information management investments. This strategic service encompasses tailored consultation covering various disciplines, from strategy and governance to operational optimization. With over 3,000 experienced professionals, OpenText aims to provide clients with a clear vision and dynamic roadmap for digital transformation, ensuring alignment with strategic initiatives and facilitating growth.

OpenText has introduced Cloud Editions (CE) 21.3, enhancing its cloud solutions with new products aimed at improving information management. The launch includes the OpenText Experience Customer Data Platform for better customer targeting and Magellan Risk Guard for content compliance. Updates to the Extended ECM for Office 365 enhance collaboration tools. The Developer Cloud now offers advanced APIs, and significant innovations in security and regulatory solutions were also announced. This update positions OpenText to meet the increasing demand for cloud-based digital transformation.

OpenText (NASDAQ: OTEX), a leader in information management solutions, announced that Eurowings GmbH has implemented OpenText Exceed TurboX for enhanced remote access to critical flight operations applications. This shift, prompted by pandemic challenges, ensures secure connectivity and improved efficiency in managing real-time operational changes. The solution allows users to manage applications remotely, facilitating uninterrupted productivity and operational continuity.

Open Text Corporation (NASDAQ: OTEX) will release its fourth quarter and fiscal year 2021 financial results on August 5, 2021, at 4:00 p.m. ET. A teleconference call hosted by CEO Mark J. Barrenechea and CFO Madhu Ranganathan will follow at 5:00 p.m. ET, where they will discuss the financial results. Investors can join the call by dialing in about 10 minutes early. A replay will be accessible from 7:00 p.m. ET on the same day until August 19, 2021. For more details, visit Open Text's investor page.

OpenText has announced expanded support for its solution extensions for SAP applications in the Asia Pacific Japan (APJ) region, leveraging Google Cloud data centers in Singapore, India, and Japan. This partnership enhances cloud-deployed information management solutions tailored for the SAP ecosystem, addressing regional compliance and data sovereignty. The offerings include OpenText Extended ECM for SAP Solutions and Core Archive for SAP Solutions, among others. The initiative seeks to meet the growing demand for effective cloud-based solutions in APJ.

OpenText (NASDAQ: OTEX, TSX: OTEX) announced that Financiera de Desarrollo Nacional (FDN) in Colombia has significantly reduced its contracting process from six months to just five days using OpenText Extended ECM for SAP Solutions. This automation led to a 45% decrease in the time required to create requests and a 53% reduction in requests for physical folders. FDN, which finances Colombia's essential infrastructure, sought this solution to enhance compliance and efficiency amid increasing demand for projects. The implementation is seen as vital for supporting Colombia's economic growth.

OpenText (NASDAQ: OTEX) has appointed Ann M. Powell to its board of directors. Ms. Powell, currently the EVP and Global Chief Human Resource Officer at Bristol Myers Squibb, brings over 30 years of experience in talent and culture across various industries. Her appointment is expected to enhance the board's effectiveness with her focus on fostering a diverse and inclusive workforce. This move aligns with OpenText's strategic goal of enriching leadership perspectives.

OpenText (NASDAQ: OTEX) has been recognized as a leader in The Forrester Wave™: Content Platforms, Q2 2021, receiving top scores for integration, interoperability, and lifecycle management. This recognition highlights OpenText's commitment to employee productivity and cloud solutions, particularly through its Extended ECM platform and recently launched Core Content SaaS offering. The company emphasizes its comprehensive cloud content platforms, catering to regulated industries with flexible deployment options, enabling organizations to effectively manage their information assets.