Open Text (OTEX-T) Stock Predictions - Stockchase
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Open Text (OTEX-T)

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Open Text

OTEX-T

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Open Text (OTEX-T) SAVE Feb, 19, 2019, 4:49 pm

49.59 0.11 (0.22%)

About Open Text (OTEX-T)

OpenText Corporation is a Canadian company that develops and sells enterprise information management software. More at Wikipedia

What the experts are saying about OTEX-T



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Signal Opinion Expert
TOP PICK
Open Text(OTEX-T) 

February 15, 2019

A high free cash flow -- about three-quarters of a billion dollars annually. He expects them to continue growing by acquisition. Technically, he sees upside to $55. Yield 1.63%. (Analysts’ price target is $57.54)
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A high free cash flow -- about three-quarters of a billion dollars annually. He expects them to continue growing by acquisition. Technically, he sees upside to $55. Yield 1.63%. (Analysts’ price target is $57.54)
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Robert McWhirte

President, Selective Asset Mana...

Price Price
$49.700
Owned Owned
Yes

COMMENT
Open Text(OTEX-T) 

February 8, 2019

CGI vs Open Text? He would like to own both of these. Having some growth in your portfolio is good -- especially if the economy is going to slow. He likes the yield of Open Text. He likes the predictably of earnings with CGI, so slightly favours it.
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CGI vs Open Text? He would like to own both of these. Having some growth in your portfolio is good -- especially if the economy is going to slow. He likes the yield of Open Text. He likes the predictably of earnings with CGI, so slightly favours it.
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Brian Acker, CA

Chief Exec, Acker Finley Inc....

Price Price
$49.090
Owned Owned
_N/A

BUY
Open Text(OTEX-T) 

February 8, 2019

October to March seasonality. It's moved above its 200-day moving average and has gapped higher. $48 is support and when you can buy and ride it higher.
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October to March seasonality. It's moved above its 200-day moving average and has gapped higher. $48 is support and when you can buy and ride it higher.
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Jon Vialoux

Research A, CastleMoore Inc....

Price Price
$49.090
Owned Owned
Unknown

BUY
Open Text(OTEX-T) 

February 4, 2019

The recurring revenue has been growing. It has had a big basing pattern for a couple of hears. If you own any technology in Canada, this one has to be part of it.
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The recurring revenue has been growing. It has had a big basing pattern for a couple of hears. If you own any technology in Canada, this one has to be part of it.
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Hap (Robert) Sn

Chief Port, Castlemoore Inc....

Price Price
$49.310
Owned Owned
Yes

PARTIAL BUY
Open Text(OTEX-T) 

January 28, 2019

They're about to report. They had a rare test of support at $40 and held. Technicals say buy or hold.
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They're about to report. They had a rare test of support at $40 and held. Technicals say buy or hold.
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Elliott Fishman

Director o, Trading Services Gro...

Price Price
$47.100
Owned Owned
Unknown

COMMENT
Open Text(OTEX-T) 

January 21, 2019

He uses US tech's. There is nothing negative to say about OTEX-T but there is more compelling value in the US. It holds in very well and trades very well. He would not buy this multiple. The company is well run.
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He uses US tech's. There is nothing negative to say about OTEX-T but there is more compelling value in the US. It holds in very well and trades very well. He would not buy this multiple. The company is well run.
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Rick Stuchberry

Portfolio , Wellington-Altus Pri...

Price Price
$46.440
Owned Owned
No

HOLD
Open Text(OTEX-T) 

January 18, 2019

A software company and a good value stock. He likes it as it grows by acquisition. The market is taking a wait and see on the latest acquisitions, but he thinks the CEO is rock solid.
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A software company and a good value stock. He likes it as it grows by acquisition. The market is taking a wait and see on the latest acquisitions, but he thinks the CEO is rock solid.
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Norman Levine

Managing D, Portfolio Management...

Price Price
$46.870
Owned Owned
Unknown

PAST TOP PICK
Open Text(OTEX-T) 

January 16, 2019

(A Top Pick Feb 20/18, Up 5%) They continue to grow by acquisition. The recent pullback in the tech space creates a great opportunity for them in the space as they have great cash flow going forward. He will look to get back into it over the next six months.
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(A Top Pick Feb 20/18, Up 5%) They continue to grow by acquisition. The recent pullback in the tech space creates a great opportunity for them in the space as they have great cash flow going forward. He will look to get back into it over the next six months.
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Robert McWhirte

President, Selective Asset Mana...

Price Price
$45.760
Owned Owned
No

DON'T BUY
Open Text(OTEX-T) 

January 14, 2019

It tends to get to the end of its seasonal cycle soon. He would hold off because we are ending the seasonal cycle. We are showing some basing here and if it goes up that would be positive.
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It tends to get to the end of its seasonal cycle soon. He would hold off because we are ending the seasonal cycle. We are showing some basing here and if it goes up that would be positive.
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Brooke Thackray

Research A, Horizons ETFs (Canad...

Price Price
$45.470
Owned Owned
Unknown

WATCH
Open Text(OTEX-T) 

January 8, 2019

A longtime great performer. They continue to do acquisitions well. He's up 30-40%. Current levels are reasonable. But under the new CEO they are taking on a lot of debt as they aquire, which is a concern. He wants to see more debt repayment. Dividend will continue to rise. Definitely watch this.
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A longtime great performer. They continue to do acquisitions well. He's up 30-40%. Current levels are reasonable. But under the new CEO they are taking on a lot of debt as they aquire, which is a concern. He wants to see more debt repayment. Dividend will continue to rise. Definitely watch this.
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Darren Sissons

Vice Presi, Campbell Lee & Ross...

Price Price
$44.790
Owned Owned
Yes

BUY
Open Text(OTEX-T) 

January 7, 2019

A very well managed Canadian software company that grows by acquiring others into its platform. You will get consistent growth as a stream of acquisitions comes along. You get it cheap and it has a solid outlook. There is probably 30% upside in a better market environment.
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A very well managed Canadian software company that grows by acquiring others into its platform. You will get consistent growth as a stream of acquisitions comes along. You get it cheap and it has a solid outlook. There is probably 30% upside in a better market environment.
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Bruce Murray

CEO & Chie, The Murray Wealth Gr...

Price Price
$43.570
Owned Owned
Yes

BUY on WEAKNESS
Open Text(OTEX-T) 

January 2, 2019

CGI vs. OTEX He's been watching Open Text and will buy it under $40. They're good at making purchases. He prefers it to CGI which is too high right now.
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CGI vs. OTEX He's been watching Open Text and will buy it under $40. They're good at making purchases. He prefers it to CGI which is too high right now.
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Bruce Campbell

President, Campbell and Lee Inv...

Price Price
$44.050
Owned Owned
No

PAST TOP PICK
Open Text(OTEX-T) 

December 31, 2018

(A Top Pick Feb 15/18, Up 2%) He still likes it. A good long term growth story. They acquire and then pay down the debt with cash flow.
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(A Top Pick Feb 15/18, Up 2%) He still likes it. A good long term growth story. They acquire and then pay down the debt with cash flow.
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John Zechner

Chairman, J. Zechner & Assoc...

Price Price
$44.500
Owned Owned
No

PAST TOP PICK
Open Text(OTEX-T) 

December 28, 2018

(A Top Pick Jan 05/18, Up 6%) They continue seeing good opportunities for acquisition. They are also planning on good organic growth. They sold out when the stock began to retrace earlier in Q4, but it is now a good candidate for re-purchase now.
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(A Top Pick Jan 05/18, Up 6%) They continue seeing good opportunities for acquisition. They are also planning on good organic growth. They sold out when the stock began to retrace earlier in Q4, but it is now a good candidate for re-purchase now.
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Robert McWhirte

President, Selective Asset Mana...

Price Price
$44.260
Owned Owned
No

BUY
Open Text(OTEX-T) 

December 20, 2018

There is a group of tech stocks that did not lead in the recent market strength in the US. OTEX-T made a few acquisitions in the year which he thinks were pretty good. The market is sitting back to see where these acquisitions go. He likes management.
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There is a group of tech stocks that did not lead in the recent market strength in the US. OTEX-T made a few acquisitions in the year which he thinks were pretty good. The market is sitting back to see where these acquisitions go. He likes management.
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Norman Levine

Managing D, Portfolio Management...

Price Price
$44.010
Owned Owned
Yes

TOP PICK
Open Text(OTEX-T) 

December 13, 2018

He is comfortable with their ability to integrate their acquisitions. They have a track record of their acquisitions having worked in the past. You get a reasonable dividend. It is a replacement for CSU-T. (Analysts’ price target is $55.92)
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He is comfortable with their ability to integrate their acquisitions. They have a track record of their acquisitions having worked in the past. You get a reasonable dividend. It is a replacement for CSU-T. (Analysts’ price target is $55.92)
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Kash Pashootan

CEO & Chie, First Avenue Investm...

Price Price
$45.200
Owned Owned
Yes

BUY
Open Text(OTEX-T) 

December 10, 2018

It is a great company and quite successful. There is concern they will run out of acquisition targets. They say there are about $100 Million in targets. He thinks it is quite attractive.
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It is a great company and quite successful. There is concern they will run out of acquisition targets. They say there are about $100 Million in targets. He thinks it is quite attractive.
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Teal Linde

Portfolio , Linde Equity Report...

Price Price
$44.730
Owned Owned
Unknown

BUY
Open Text(OTEX-T) 

November 14, 2018

Canada's most successful software company. They sell mainly to businesses. They continue to make acquisitions. Well-run, with a CEO who believes he can triple the company.
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Canada's most successful software company. They sell mainly to businesses. They continue to make acquisitions. Well-run, with a CEO who believes he can triple the company.
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Bruce Murray

CEO & Chie, The Murray Wealth Gr...

Price Price
$43.330
Owned Owned
Unknown

PAST TOP PICK
Open Text(OTEX-T) 

November 8, 2018

(A Top Pick Nov 22/17, Up 7%) Enterprise software and consolidator. They are doing a good job. He met last week with them. He would have them run any business and buy shares. It is a long term hold for him.
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(A Top Pick Nov 22/17, Up 7%) Enterprise software and consolidator. They are doing a good job. He met last week with them. He would have them run any business and buy shares. It is a long term hold for him.
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Norman Levine

Managing D, Portfolio Management...

Price Price
$43.850
Owned Owned
Yes

BUY on WEAKNESS
Open Text(OTEX-T) 

November 2, 2018

They reported earnings yesterday. He thinks it is a great company and one should add at $39.73 to any holdings. He is not worried about the recent sell off in the entire tech space.
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They reported earnings yesterday. He thinks it is a great company and one should add at $39.73 to any holdings. He is not worried about the recent sell off in the entire tech space.
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Brian Acker, CA

Chief Exec, Acker Finley Inc....

Price Price
$43.510
Owned Owned
No

BUY on WEAKNESS
Open Text(OTEX-T) 

October 23, 2018

He is looking at the name more closely. It is on the leading edge of technology and cloud. He likes it. Doesn’t look too expensive. 

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He is looking at the name more closely. It is on the leading edge of technology and cloud. He likes it. Doesn’t look too expensive. 

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Andrew Pink

Portfolio , LDIC...

Price Price
$45.040
Owned Owned
No

HOLD
Open Text(OTEX-T) 

October 19, 2018

It is not very expensive on a valuation.  They are still growing through acquisition.  Is probably quite safe at these levels.

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It is not very expensive on a valuation.  They are still growing through acquisition.  Is probably quite safe at these levels.

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Bryden Teich

Portfolio , Avenue Investment Ma...

Price Price
$44.590
Owned Owned
No

TOP PICK
Open Text(OTEX-T) 

October 15, 2018

Technology is one of the really good areas.  These guys are always good at acquisitions.  They spent a lot of time on organic growth in the last year.  They have a fantastic balance sheet.  These guys are always takeout candidates.  (Analysts’ target: $57.54).

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Technology is one of the really good areas.  These guys are always good at acquisitions.  They spent a lot of time on organic growth in the last year.  They have a fantastic balance sheet.  These guys are always takeout candidates.  (Analysts’ target: $57.54).

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Hap (Robert) Sn

Chief Port, Castlemoore Inc....

Price Price
$44.310
Owned Owned
Yes

PAST TOP PICK
Open Text(OTEX-T) 

October 12, 2018

(A Top Pick August 21/17, Up 15%) Had been trading at a low multiple. Probably will pay down debt and get ready for the next acquisition. He has a small position.

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(A Top Pick August 21/17, Up 15%) Had been trading at a low multiple. Probably will pay down debt and get ready for the next acquisition. He has a small position.

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David Driscoll

President , Liberty Internationa...

Price Price
$45.330
Owned Owned
Yes

HOLD
Open Text(OTEX-T) 

October 9, 2018

Tech sector down in the US from its June peak and that translate into some Canadian companies in the sector like this one. They are due for another acquisition in his opinion. They are taking a new approach now with the new CEO focusing on return on invested capital. Very good long-term capital allocator. (Analysts’ price target is $57.00)

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Tech sector down in the US from its June peak and that translate into some Canadian companies in the sector like this one. They are due for another acquisition in his opinion. They are taking a new approach now with the new CEO focusing on return on invested capital. Very good long-term capital allocator. (Analysts’ price target is $57.00)

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James Telfser

Partner & , Aventine Management ...

Price Price
$46.050
Owned Owned
Yes

TOP PICK
Open Text(OTEX-T) 

September 27, 2018

It reminds him of Constellation Software.  OTEX-T has a long track record of making acquisitions accretive.  What has changed is the organic growth side of the business picking up.  They have low debt, also.

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It reminds him of Constellation Software.  OTEX-T has a long track record of making acquisitions accretive.  What has changed is the organic growth side of the business picking up.  They have low debt, also.

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Kash Pashootan

CEO & Chie, First Avenue Investm...

Price Price
$50.190
Owned Owned
Yes

PAST TOP PICK
Open Text(OTEX-T) 

September 25, 2018

(A Top Pick September 27, 2017. Up 27%). This was out of favour when he bought it. It was down because it grows by acquisition. It bit off a couple of big acquisitions and the market was unsure how well it could manage them. As it turned out, they did well.

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(A Top Pick September 27, 2017. Up 27%). This was out of favour when he bought it. It was down because it grows by acquisition. It bit off a couple of big acquisitions and the market was unsure how well it could manage them. As it turned out, they did well.

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Norman Levine

Managing D, Portfolio Management...

Price Price
$49.190
Owned Owned
Yes

BUY
Open Text(OTEX-T) 

September 24, 2018

Likes it, but their financials are noisy after a recent purchase. Their chart has been bouncing around, but he sees this as an opportunity. Managers have increased shareholder value in recent years. He continues these managers to continue to execute well through organic growth and acquisition.

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Likes it, but their financials are noisy after a recent purchase. Their chart has been bouncing around, but he sees this as an opportunity. Managers have increased shareholder value in recent years. He continues these managers to continue to execute well through organic growth and acquisition.

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Jason Del Vicar

Portfolio , HollisWealth...

Price Price
$49.170
Owned Owned
Yes

HOLD
Open Text(OTEX-T) 

September 19, 2018

He is a happy shareholder of this one.  He bought it because it had lagged the whole software cycle in the beginning.  They made an acquisition that caused the stock to tumble – they saw that as an opportunity at $40.  He would not be adding to his position at this value, but expects future valuation appreciation.  

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He is a happy shareholder of this one.  He bought it because it had lagged the whole software cycle in the beginning.  They made an acquisition that caused the stock to tumble – they saw that as an opportunity at $40.  He would not be adding to his position at this value, but expects future valuation appreciation.  

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Lyle Stein

Sr. Portfo, Vestcap Investment M...

Price Price
$49.410
Owned Owned
Yes

HOLD
Open Text(OTEX-T) 

September 18, 2018

This has been a continuous grower and the business has been solid for the past few years. This is a stock that will let you sleep well at night.

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This has been a continuous grower and the business has been solid for the past few years. This is a stock that will let you sleep well at night.

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Bruce Murray

CEO & Chie, The Murray Wealth Gr...

Price Price
$49.600
Owned Owned
Unknown

BUY
Open Text(OTEX-T) 

September 10, 2018

They have been acquisitive but have not made a large one recently.  The discount to the group could close over time.

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They have been acquisitive but have not made a large one recently.  The discount to the group could close over time.

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Colin Stewart

CEO & Port, JC Clark Investments...

Price Price
$50.580
Owned Owned
Yes

PAST TOP PICK
Open Text(OTEX-T) 

August 27, 2018

(Past Top Pick, Feb.15, 2018, Up 15%) They grow by acquisition. They did a great migration to a cloud-based business. Valuations are cheap. Trades at 10x forward earnings and cash flow at 12x earnings.

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(Past Top Pick, Feb.15, 2018, Up 15%) They grow by acquisition. They did a great migration to a cloud-based business. Valuations are cheap. Trades at 10x forward earnings and cash flow at 12x earnings.

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John Zechner

Chairman, J. Zechner & Assoc...

Price Price
$50.460
Owned Owned
Yes

TOP PICK
Open Text(OTEX-T) 

August 23, 2018

If you have any kind of big data, whether you are government or big business, this is a player that can help you manage all of that.  Historically they have been very acquisition-focused.  We are seeing some of the fruits of that labour coming to fruition.  (Analysts’ target: $58.07).

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If you have any kind of big data, whether you are government or big business, this is a player that can help you manage all of that.  Historically they have been very acquisition-focused.  We are seeing some of the fruits of that labour coming to fruition.  (Analysts’ target: $58.07).

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Kash Pashootan

CEO & Chie, First Avenue Investm...

Price Price
$50.820
Owned Owned
Yes

TOP PICK
Open Text(OTEX-T) 

August 13, 2018

An overlooked Canadian tech company. Fantastic blaance sheet. There's organic growth through acqusitions. They've been on the bad side of shorts. Can be volatile, but steady when the market is forthy. Has recommend it before. (Analysts' price target: $58.07)

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An overlooked Canadian tech company. Fantastic blaance sheet. There's organic growth through acqusitions. They've been on the bad side of shorts. Can be volatile, but steady when the market is forthy. Has recommend it before. (Analysts' price target: $58.07)

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Hap (Robert) Sn

Chief Port, Castlemoore Inc....

Price Price
$51.250
Owned Owned
Yes

WEAK BUY
Open Text(OTEX-T) 

August 3, 2018

This company has been competing well through good acquisitions and he thinks it is well managed.  Due to a lack of consistency in earnings it tends to keep the valuation multiples pretty low.  This last quarter was great and the forecast looks promising.  He is watching this closely and thinks it is an acquisition target (but has thought so for 10 years).  

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This company has been competing well through good acquisitions and he thinks it is well managed.  Due to a lack of consistency in earnings it tends to keep the valuation multiples pretty low.  This last quarter was great and the forecast looks promising.  He is watching this closely and thinks it is an acquisition target (but has thought so for 10 years).  

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Peter Hodson

CEO & Head, 5i Research Inc....

Price Price
$51.150
Owned Owned
No

WATCH
Open Text(OTEX-T) 

July 30, 2018

It has a lovely balance sheet.  The problem is with the earnings and the intrinsic value of the company.  Forecasts since 2014 show a steady progression in earnings but just a modest progression.  He has only seen an increase in fair market value of 9% since then.  He would wait for a setback.  Wait for it to pull back to $40.

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It has a lovely balance sheet.  The problem is with the earnings and the intrinsic value of the company.  Forecasts since 2014 show a steady progression in earnings but just a modest progression.  He has only seen an increase in fair market value of 9% since then.  He would wait for a setback.  Wait for it to pull back to $40.

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Ross Healy

Chairman, Strategic Analysis C...

Price Price
$48.150
Owned Owned
Unknown

HOLD
Open Text(OTEX-T) 

July 27, 2018

Really like action yesterday. Record territory, which is always positive. Nice recovery since drop in May. Broke through $47 resistance. If breaks above $48, start reducing. Below $45, sell.

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Really like action yesterday. Record territory, which is always positive. Nice recovery since drop in May. Broke through $47 resistance. If breaks above $48, start reducing. Below $45, sell.

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Jeff Parent B.

VP & Portf, Castlemoore Inc....

Price Price
$49.410
Owned Owned
Yes

BUY
Open Text(OTEX-T) 

July 17, 2018

They just announced a dispute with the IRS which affected the stock price today. He expects this to take years to resolve. Canadian software stocks have done very well over time. He would be a buyer on dips, and today’s news created a dip, so he would buy. The model price is $63, which gives a 26% upside from the current price. He would plan to hold this for longer than 5 years. 22. Amazon (AMZN-O)(Doesn’t Own)(Don’t Buy). If the S&P goes higher, certainly Amazon will go higher. It has positive equity, but it is too expensive for a value investor.

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They just announced a dispute with the IRS which affected the stock price today. He expects this to take years to resolve. Canadian software stocks have done very well over time. He would be a buyer on dips, and today’s news created a dip, so he would buy. The model price is $63, which gives a 26% upside from the current price. He would plan to hold this for longer than 5 years. 22. Amazon (AMZN-O)(Doesn’t Own)(Don’t Buy). If the S&P goes higher, certainly Amazon will go higher. It has positive equity, but it is too expensive for a value investor.

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Brian Acker, CA

Chief Exec, Acker Finley Inc....

Price Price
$49.370
Owned Owned
Unknown

COMMENT
Open Text(OTEX-T) 

July 10, 2018

A Canadian software success story. He looked at it, but bought Constellation Software instead. That said, Open Text has delivered the goods.

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A Canadian software success story. He looked at it, but bought Constellation Software instead. That said, Open Text has delivered the goods.

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Barry Schwartz

CIO & Port, Baskin Wealth Manage...

Price Price
$48.770
Owned Owned
No

TOP PICK
Open Text(OTEX-T) 

June 28, 2018

The companies that are migrating from software licensees to cloud are the winners. They have done some great acquisitions. Trading at 9 times operating earnings. Yield 1.7%.  (Analysts’ price target is $55.30)

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The companies that are migrating from software licensees to cloud are the winners. They have done some great acquisitions. Trading at 9 times operating earnings. Yield 1.7%.  (Analysts’ price target is $55.30)

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John Zechner

Chairman, J. Zechner & Assoc...

Price Price
$46.370
Owned Owned
Yes

TOP PICK
Open Text(OTEX-T) 

June 20, 2018

He loves the software space. Once you hook a client to use your software, they never stop using it. This business generates a lot of cash. OTEX will generate $1 billion of operating cash flow in the next three years. They've done a great job growing EBITDA per share. OTEX is cheap consider 11x EBITDA vs. 17x among U.S. peers. Has had dividend growth for the past five years. (Analysts' price target: $55.07)

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He loves the software space. Once you hook a client to use your software, they never stop using it. This business generates a lot of cash. OTEX will generate $1 billion of operating cash flow in the next three years. They've done a great job growing EBITDA per share. OTEX is cheap consider 11x EBITDA vs. 17x among U.S. peers. Has had dividend growth for the past five years. (Analysts' price target: $55.07)

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Steve DiGregori

Portfolio , Canoe Financial...

Price Price
$47.890
Owned Owned
Yes

HOLD
Open Text(OTEX-T) 

May 31, 2018

He owns this one.  Fundamentally not a lot going on.  For the past 1-2 years the price has not advanced substantially.  It is a hold for now.  He wants to see it go above $48.  His reduce point is $41. 

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He owns this one.  Fundamentally not a lot going on.  For the past 1-2 years the price has not advanced substantially.  It is a hold for now.  He wants to see it go above $48.  His reduce point is $41. 

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Jeff Parent B.

VP & Portf, Castlemoore Inc....

Price Price
$45.230
Owned Owned
Yes

TOP PICK
Open Text(OTEX-T) 

May 29, 2018

Makes software for companies to be more efficient. Has grown by acquisitions and the market is waiting for them to show how well they are doing. Does pay a dividend. Thinks there is great value here. Likes the fact that most of their earnings are coming outside Canada. (Analysts' price target $55.02)

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Makes software for companies to be more efficient. Has grown by acquisitions and the market is waiting for them to show how well they are doing. Does pay a dividend. Thinks there is great value here. Likes the fact that most of their earnings are coming outside Canada. (Analysts' price target $55.02)

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Norman Levine

Managing D, Portfolio Management...

Price Price
$44.510
Owned Owned
Yes

WATCH
Open Text(OTEX-T) 

May 23, 2018

A well-run company that has made good acquisitions, he thinks.  It has consolidated in price since 2017 and there does not seem to be any urgency in the market to buy it.  He would wait until it breaks above the 2018 high. 

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A well-run company that has made good acquisitions, he thinks.  It has consolidated in price since 2017 and there does not seem to be any urgency in the market to buy it.  He would wait until it breaks above the 2018 high. 

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Brooke Thackray

Research A, Horizons ETFs (Canad...

Price Price
$44.150
Owned Owned
No

BUY
Open Text(OTEX-T) 

May 18, 2018

Ranks in the top 15% of his database. Its recent report was disappointing, but he expects 9% earnings growth this year. ROE is 20%. This is a long-term hold. Disciplined with a team focussed on acquisitions. A good time to buy.

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Ranks in the top 15% of his database. Its recent report was disappointing, but he expects 9% earnings growth this year. ROE is 20%. This is a long-term hold. Disciplined with a team focussed on acquisitions. A good time to buy.

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Robert McWhirte

President, Selective Asset Mana...

Price Price
$43.770
Owned Owned
Yes

BUY
Open Text(OTEX-T) 

May 17, 2018

He likes this company Solid from a balance sheet perspective. The ROI looks very attractive. They continue to grow and acquire good companies and integrating them very well.

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He likes this company Solid from a balance sheet perspective. The ROI looks very attractive. They continue to grow and acquire good companies and integrating them very well.

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Prakash Harihar

Portfolio , Analytixinsight Inc....

Price Price
$43.460
Owned Owned
No

HOLD
Open Text(OTEX-T) 

May 10, 2018

He likes the name. One quarter shouldn’t shy you off. It’s been cruising along but they really missed the last quarter on many levels. He would wait and see.

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He likes the name. One quarter shouldn’t shy you off. It’s been cruising along but they really missed the last quarter on many levels. He would wait and see.

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Elliott Fishman

Director o, Trading Services Gro...

Price Price
$44.300
Owned Owned
No

HOLD
Open Text(OTEX-T) 

May 4, 2018

Provider of Information Technology to the legal industry and other record keeping players. Very well-run company. Stable company. The growth coming from acquisitions. Good management team. (Analysts’ price target is $56.00)

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Provider of Information Technology to the legal industry and other record keeping players. Very well-run company. Stable company. The growth coming from acquisitions. Good management team. (Analysts’ price target is $56.00)

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Jamie Murray

Head of re, Murray Wealth Group...

Price Price
$46.530
Owned Owned
Yes

PAST TOP PICK
Open Text(OTEX-T) 

May 2, 2018

(A Past Top Pick on Oct. 6, 2017, Up 12%)  A great acquisition model, because they create revenue and cost synergies among their companies, and create cash flow to pay for those acquisitions. And so on. This strategy has served them well for years. Strong managers.

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(A Past Top Pick on Oct. 6, 2017, Up 12%)  A great acquisition model, because they create revenue and cost synergies among their companies, and create cash flow to pay for those acquisitions. And so on. This strategy has served them well for years. Strong managers.

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John Zechner

Chairman, J. Zechner & Assoc...

Price Price
$46.500
Owned Owned
Yes

BUY
Open Text(OTEX-T) 

April 26, 2018

He likes it.  It is a semblance of value in the tech space.  The market was underwhelmed but it but now we are seeing some of the benefits of it.  They keep tucking in acquisitions.  It is a winner.  It gives you some non-Canadian exposure.  It could hit $60 in a couple of years.

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He likes it.  It is a semblance of value in the tech space.  The market was underwhelmed but it but now we are seeing some of the benefits of it.  They keep tucking in acquisitions.  It is a winner.  It gives you some non-Canadian exposure.  It could hit $60 in a couple of years.

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Lyle Stein

Sr. Portfo, Vestcap Investment M...

Price Price
$45.760
Owned Owned
Yes

HOLD
Open Text(OTEX-T) 

April 4, 2018

He does not own this one.  This company has been a great creator of shareholder value along its long history.  People tend to criticize them for manufacturing earnings growth.  He would be comfortable holding an existing position.

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He does not own this one.  This company has been a great creator of shareholder value along its long history.  People tend to criticize them for manufacturing earnings growth.  He would be comfortable holding an existing position.

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Brian Madden

Senior VP , Goodreid Investment ...

Price Price
$43.990
Owned Owned
No

PAST TOP PICK
Open Text(OTEX-T) 

March 27, 2018

(A Top Pick Oct. 6/17, Up 6%) Acquisitions continue to do well. They've always slowly grow Biggest growth area is the Cloud, which they do very well. Good last quarter. It won't be exciting in the short term, but it's a fine long-term story. Only 13x forward earnings.

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(A Top Pick Oct. 6/17, Up 6%) Acquisitions continue to do well. They've always slowly grow Biggest growth area is the Cloud, which they do very well. Good last quarter. It won't be exciting in the short term, but it's a fine long-term story. Only 13x forward earnings.

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John Zechner

Chairman, J. Zechner & Assoc...

Price Price
$43.910
Owned Owned
Yes

TOP PICK
Open Text(OTEX-T) 

March 15, 2018

A software company. Largest holding at the moment for his client’s portfolios. The stock has been underperforming because large acquisition that made last year that made investors worry that they wouldn’t be able to consolidate them well. But the latest quarter showed that sales and margins are better than expected. Yield of 1.4% (Analysts’ price target is $54.59)

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A software company. Largest holding at the moment for his client’s portfolios. The stock has been underperforming because large acquisition that made last year that made investors worry that they wouldn’t be able to consolidate them well. But the latest quarter showed that sales and margins are better than expected. Yield of 1.4% (Analysts’ price target is $54.59)

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Norman Levine

Managing D, Portfolio Management...

Price Price
$47.290
Owned Owned
Yes

DON'T BUY
Open Text(OTEX-T) 

February 22, 2018

Technology fades away a little at this time of year.  Last year at this time of year it was fairly flat overall.  It has been in a trading range and he would wait for it to pull back down before entering.  There are other companies that represent better opportunities.

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Technology fades away a little at this time of year.  Last year at this time of year it was fairly flat overall.  It has been in a trading range and he would wait for it to pull back down before entering.  There are other companies that represent better opportunities.

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Brooke Thackray

Research A, Horizons ETFs (Canad...

Price Price
$43.900
Owned Owned
Unknown

TOP PICK
Open Text(OTEX-T) 

February 20, 2018

Sales, earnings and margins are all up and expected to rise further.  They expect half of their growth to be organic, the other half through acquisitions. They have a 24-person team looking for acquisitions, applying a very disciplined approach.  (Analysts’ price target is 54.42$)

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Sales, earnings and margins are all up and expected to rise further.  They expect half of their growth to be organic, the other half through acquisitions. They have a 24-person team looking for acquisitions, applying a very disciplined approach.  (Analysts’ price target is 54.42$)

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Robert McWhirte

President, Selective Asset Mana...

Price Price
$44.240
Owned Owned
Yes

PAST TOP PICK
Open Text(OTEX-T) 

February 16, 2018

(A Top Pick April 10/17 - Down 1%.)  Nice little base. Technology is a sector that is part of the pro-growth theme. They might be bought. Well-run company. He would buy at these levels.

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(A Top Pick April 10/17 - Down 1%.)  Nice little base. Technology is a sector that is part of the pro-growth theme. They might be bought. Well-run company. He would buy at these levels.

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Hap (Robert) Sn

Chief Port, Castlemoore Inc....

Price Price
$44.080
Owned Owned
Yes

TOP PICK
Open Text(OTEX-T) 

February 15, 2018

Enterprise content management.  Grew a little bit organically and then by acquisition, paying down the acquisition before moving on.  They are getting more organic growth.  They are trading at 12 times forward earnings.  Margins are coming higher.  It is growing with a good business model and in the right space.  (Analysts’ target: $54.09).

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Enterprise content management.  Grew a little bit organically and then by acquisition, paying down the acquisition before moving on.  They are getting more organic growth.  They are trading at 12 times forward earnings.  Margins are coming higher.  It is growing with a good business model and in the right space.  (Analysts’ target: $54.09).

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John Zechner

Chairman, J. Zechner & Assoc...

Price Price
$44.120
Owned Owned
Yes

BUY
Open Text(OTEX-T) 

February 1, 2018

It had not been doing anything when all the tech names were flying.  Their recent acquisition is working and margins are going to go up. 

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It had not been doing anything when all the tech names were flying.  Their recent acquisition is working and margins are going to go up. 

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Lyle Stein

Sr. Portfo, Vestcap Investment M...

Price Price
$47.480
Owned Owned
Yes

DON'T BUY
Open Text(OTEX-T) 

January 29, 2018

He owned many years ago.  He revisited it last fall but is still not seeing any organic growth.  It is a much more expensive stock now.  He is not thrilled by the incentivization of management.

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He owned many years ago.  He revisited it last fall but is still not seeing any organic growth.  It is a much more expensive stock now.  He is not thrilled by the incentivization of management.

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Stephen Takacsy

Chief Inve, Lester Asset Managem...

Price Price
$42.110
Owned Owned
No

WATCH
Open Text(OTEX-T) 

January 8, 2018

He was researching it in the last couple of weeks.  See Top Picks.  They have done a good job of growing by acquisition.  They should improve as they integrate these acquisitions.  The big game changer is announcing of more deals.  He likes the name.  You have to trade in and out of it.  Wait for it to pull back over the next couple of quarters.

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He was researching it in the last couple of weeks.  See Top Picks.  They have done a good job of growing by acquisition.  They should improve as they integrate these acquisitions.  The big game changer is announcing of more deals.  He likes the name.  You have to trade in and out of it.  Wait for it to pull back over the next couple of quarters.

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James Telfser

Partner & , Aventine Management ...

Price Price
$42.160
Owned Owned
No

TOP PICK
Open Text(OTEX-T) 

January 5, 2018

This reported in November and sales were up 20% and earnings were up 21%. Free cash flow is huge at $500 million on a 4th quarter trailing basis. ROE of 16% and is forecast to rise to 18.6% for the June 30 year-end. Dividend yield of 1.5%. (Analysts' price target is $40.)

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This reported in November and sales were up 20% and earnings were up 21%. Free cash flow is huge at $500 million on a 4th quarter trailing basis. ROE of 16% and is forecast to rise to 18.6% for the June 30 year-end. Dividend yield of 1.5%. (Analysts' price target is $40.)

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Robert McWhirte

President, Selective Asset Mana...

Price Price
$42.570
Owned Owned
Yes

BUY
Open Text(OTEX-T) 

December 28, 2017

A software stock that had been left behind because of a couple of acquisitions.  It is up nicely today because of a surprise announcement that it will be added to the TSX-60 index.  Historically these stocks go up a couple more percent and stay there after being added to the TSX-60.

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A software stock that had been left behind because of a couple of acquisitions.  It is up nicely today because of a surprise announcement that it will be added to the TSX-60 index.  Historically these stocks go up a couple more percent and stay there after being added to the TSX-60.

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Norman Levine

Managing D, Portfolio Management...

Price Price
$44.660
Owned Owned
Unknown

BUY
Open Text(OTEX-T) 

December 4, 2017

He does not have a large position.  It is a neutral size (3%).  He is looking for technical strength before adding or he might exit if it showed weakness.  They are digesting recent acquisitions.  This is at a reasonable level to enter a position.  On a long term they have a good track record and is the kind of company they like to own.

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He does not have a large position.  It is a neutral size (3%).  He is looking for technical strength before adding or he might exit if it showed weakness.  They are digesting recent acquisitions.  This is at a reasonable level to enter a position.  On a long term they have a good track record and is the kind of company they like to own.

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Jason Del Vicar

Portfolio , HollisWealth...

Price Price
$40.940
Owned Owned
Yes

BUY
Open Text(OTEX-T) 

December 1, 2017

He would own it.  He recently acquired it.  There are not a lot of tech stocks in Canada.  It is a good cash generator and you don’t pay a lot for it.  It has stability.  They are a consolidator for smaller tech companies.  He really likes the name.

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He would own it.  He recently acquired it.  There are not a lot of tech stocks in Canada.  It is a good cash generator and you don’t pay a lot for it.  It has stability.  They are a consolidator for smaller tech companies.  He really likes the name.

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Lyle Stein

Sr. Portfo, Vestcap Investment M...

Price Price
$41.160
Owned Owned
Yes

WATCH
Open Text(OTEX-T) 

December 1, 2017

Great story but it's forming a base right now, there is nothing wrong with that, but he likes to buy on breakout, but depending on your style, you can buy at the bottom of the base. He would never buy at the top of the base since it hasn’t proven breakout yet. It’s not bad, buy at a breakout or buy at the bottom of the base if you are patient.

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Great story but it's forming a base right now, there is nothing wrong with that, but he likes to buy on breakout, but depending on your style, you can buy at the bottom of the base. He would never buy at the top of the base since it hasn’t proven breakout yet. It’s not bad, buy at a breakout or buy at the bottom of the base if you are patient.

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Keith Richards

Portfolio , ValueTrend Wealth Ma...

Price Price
$41.160
Owned Owned
Unknown

BUY
Open Text(OTEX-T) 

November 28, 2017

Right around October to January of each year, the stock has moved up. Currently, the chart shows a nice base has been formed and it is testing its all-time high, and there is good reason it is going to break that very shortly. Seasonally, this looks very good right through until the end of January, when you might want to take some profits.

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Right around October to January of each year, the stock has moved up. Currently, the chart shows a nice base has been formed and it is testing its all-time high, and there is good reason it is going to break that very shortly. Seasonally, this looks very good right through until the end of January, when you might want to take some profits.

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Don Vialoux

Research A, TimingTheMarket.CA &...

Price Price
$42.380
Owned Owned
Unknown

COMMENT
Open Text(OTEX-T) 

November 23, 2017

Shows a nice uptrend with a little bit of a breakdown. Not enough buying power to make a higher high. He is neutral on this. The price action does not look like it will make a higher high. Not bearish yet.

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Shows a nice uptrend with a little bit of a breakdown. Not enough buying power to make a higher high. He is neutral on this. The price action does not look like it will make a higher high. Not bearish yet.

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William Chin

Portfolio , Caldwell Investment ...

Price Price
$41.770
Owned Owned
Unknown

TOP PICK
Open Text(OTEX-T) 

November 22, 2017

A market consolidator in business software, helping large businesses organize information, storing it and retrieving it. Their acquisition policy is buying up competitors. Did a couple of acquisitions earlier this year, and the market is waiting to see how those work out. Dividend yield of 1.6%. (Analysts’ price target is $40.)

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A market consolidator in business software, helping large businesses organize information, storing it and retrieving it. Their acquisition policy is buying up competitors. Did a couple of acquisitions earlier this year, and the market is waiting to see how those work out. Dividend yield of 1.6%. (Analysts’ price target is $40.)

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Norman Levine

Managing D, Portfolio Management...

Price Price
$41.950
Owned Owned
Yes

COMMENT
Open Text(OTEX-T) 

November 7, 2017

Basically, a growth by acquisition story. Organic growth is not great. It doesn't trade at an expensive multiple. Doesn't feel this is anything unique, which is why it doesn't garner a high multiple. Would prefer something like Descarte (DSG-T).

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Basically, a growth by acquisition story. Organic growth is not great. It doesn't trade at an expensive multiple. Doesn't feel this is anything unique, which is why it doesn't garner a high multiple. Would prefer something like Descarte (DSG-T).

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Veronika Hirsch

Chief Inve, Arrow Capital...

Price Price
$43.060
Owned Owned
Unknown

HOLD
Open Text(OTEX-T) 

November 6, 2017

This has been a winner. They tend to do the rollup acquisition strategy very well. A lot of software companies have had a hard time migrating from the old license business, to the Cloud business, and this company has done that exceptionally well. They've broadened their product offering as well as their marketing scope. Has a lot of joint venture arrangements. Not that expensive, trading at 10 or 11 times operating cash flow.

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This has been a winner. They tend to do the rollup acquisition strategy very well. A lot of software companies have had a hard time migrating from the old license business, to the Cloud business, and this company has done that exceptionally well. They've broadened their product offering as well as their marketing scope. Has a lot of joint venture arrangements. Not that expensive, trading at 10 or 11 times operating cash flow.

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John Zechner

Chairman, J. Zechner & Assoc...

Price Price
$43.530
Owned Owned
Yes

TOP PICK
Open Text(OTEX-T) 

October 6, 2017

After the last quarter, this came under a little pressure. The stock has a great, long term growth story. A lot of software companies have got a hard time migrating from the old “sell a license” to Cloud-based businesses where they have recurring revenue. This company has done it. Dividend yield of 1.6%. (Analysts’ price target is $40.)

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After the last quarter, this came under a little pressure. The stock has a great, long term growth story. A lot of software companies have got a hard time migrating from the old “sell a license” to Cloud-based businesses where they have recurring revenue. This company has done it. Dividend yield of 1.6%. (Analysts’ price target is $40.)

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John Zechner

Chairman, J. Zechner & Assoc...

Price Price
$41.700
Owned Owned
Yes

TOP PICK
Open Text(OTEX-T) 

September 27, 2017

This is in the enterprise software business. It is a consolidator, buying up competitors and companies such as itself, and growing their earnings. Their latest quarter was only so-so, and the market has taken it out on them and driven the stock down to what he thinks are bargain levels. Dividend yield of 1.7%. (Analysts’ price target is $40.)

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This is in the enterprise software business. It is a consolidator, buying up competitors and companies such as itself, and growing their earnings. Their latest quarter was only so-so, and the market has taken it out on them and driven the stock down to what he thinks are bargain levels. Dividend yield of 1.7%. (Analysts’ price target is $40.)

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Norman Levine

Managing D, Portfolio Management...

Price Price
$39.470
Owned Owned
Yes

BUY
Open Text(OTEX-T) 

September 27, 2017

In recent years, this has been a bit of a consolidator in the industry, and has some very strong niches. He doesn’t own this, but is something he would look at.

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In recent years, this has been a bit of a consolidator in the industry, and has some very strong niches. He doesn’t own this, but is something he would look at.

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Alex Ruus

Portfolio , Arrow Capital Manage...

Price Price
$39.470
Owned Owned
No

COMMENT
Open Text(OTEX-T) 

September 26, 2017

Recently bought this. Had been looking at names that were unduly hurt or had not participated in this big rally, and this one was a screaming opportunity. Had some struggles lately, as the market is trying to digest its recent acquisitions. They have a bit of a tax issue with respect to the US. A good fundamental company with a reasonable amount of earnings. Their acquisition makes sense and will allow them to continue to grow.

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Recently bought this. Had been looking at names that were unduly hurt or had not participated in this big rally, and this one was a screaming opportunity. Had some struggles lately, as the market is trying to digest its recent acquisitions. They have a bit of a tax issue with respect to the US. A good fundamental company with a reasonable amount of earnings. Their acquisition makes sense and will allow them to continue to grow.

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Lyle Stein

Sr. Portfo, Vestcap Investment M...

Price Price
$38.840
Owned Owned
Yes

BUY
Open Text(OTEX-T) 

September 18, 2017

A Canadian success story. They’ve done a great job of increasing shareholder wealth over the long-term. It meets his criteria of being a high ROE generator, and have done it for an extended period of time. They’re off their 52-week high, so this would be a reasonable level to initiate or add to a position.

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A Canadian success story. They’ve done a great job of increasing shareholder wealth over the long-term. It meets his criteria of being a high ROE generator, and have done it for an extended period of time. They’re off their 52-week high, so this would be a reasonable level to initiate or add to a position.

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Jason Del Vicar

Portfolio , HollisWealth...

Price Price
$39.500
Owned Owned
Yes

BUY
Open Text(OTEX-T) 

September 11, 2017

TSX Infotech sector? He would look at this and CGI Group (GIB.A-T). This one has 3 main verticals. Perhaps a little bit of a challenge is that the CEO has done a few too many acquisitions, too quickly, back to back. Pays a dividend. This has performed really well and has sold off fairly recently. A fairly decent entry point here.

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TSX Infotech sector? He would look at this and CGI Group (GIB.A-T). This one has 3 main verticals. Perhaps a little bit of a challenge is that the CEO has done a few too many acquisitions, too quickly, back to back. Pays a dividend. This has performed really well and has sold off fairly recently. A fairly decent entry point here.

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Darren Sissons

Vice Presi, Campbell Lee & Ross...

Price Price
$39.180
Owned Owned
Unknown

HOLD
Open Text(OTEX-T) 

August 28, 2017

For 3 to 5 years it will probably be okay.  It is European originated where there is better growth.  He thinks they should be doing better.  Given where it is now it is a hold.  He owns US techs.

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For 3 to 5 years it will probably be okay.  It is European originated where there is better growth.  He thinks they should be doing better.  Given where it is now it is a hold.  He owns US techs.

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Bruce Campbell

President, Campbell and Lee Inv...

Price Price
$39.780
Owned Owned
No

BUY
Open Text(OTEX-T) 

August 22, 2017

He likes the company.  It gets a lower valuation because a lot of them have been taken out.  OTEX-T is one of the last ones left in the space.  Their acquisition record has been phenomenal.  They have a good balance sheet and a good risk profile.  As they grow the market multiple should grow.  Their track record of earnings had problems in the past.

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He likes the company.  It gets a lower valuation because a lot of them have been taken out.  OTEX-T is one of the last ones left in the space.  Their acquisition record has been phenomenal.  They have a good balance sheet and a good risk profile.  As they grow the market multiple should grow.  Their track record of earnings had problems in the past.

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Peter Hodson

CEO & Head, 5i Research Inc....

Price Price
$40.700
Owned Owned
Unknown

TOP PICK
Open Text(OTEX-T) 

August 21, 2017

Competes with IBM on business management software.  Artificial Intelligence, data mining and cyber security come into the picture. It is a cheap stock at a price that is worth getting into.  They are becoming a game changer.  (Analysts’ target: $40.00).

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Competes with IBM on business management software.  Artificial Intelligence, data mining and cyber security come into the picture. It is a cheap stock at a price that is worth getting into.  They are becoming a game changer.  (Analysts’ target: $40.00).

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David Driscoll

President , Liberty Internationa...

Price Price
$40.290
Owned Owned
Yes

HOLD
Open Text(OTEX-T) 

August 18, 2017

A Software stock that he has owned for some time.  They are a consolidator, merging in companies and taking their costs out.  It was a buying opportunity when they slipped off after a bad quarter.

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A Software stock that he has owned for some time.  They are a consolidator, merging in companies and taking their costs out.  It was a buying opportunity when they slipped off after a bad quarter.

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Norman Levine

Managing D, Portfolio Management...

Price Price
$40.190
Owned Owned
Unknown

BUY on WEAKNESS
Open Text(OTEX-T) 

August 11, 2017

Open Text (OTEX-T) or CGI Group (GIB.A-T)? These are in different businesses. The New CEO on this has to pay more for acquisitions because they are bigger, which is needed to move the needle. Because of this, the company now carries more debt. They have a dividend, which CGI does not. He likes the company here, but if you can get it a little lower it would be alright. Periodically this stumbles, and you can pick it up.

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Open Text (OTEX-T) or CGI Group (GIB.A-T)? These are in different businesses. The New CEO on this has to pay more for acquisitions because they are bigger, which is needed to move the needle. Because of this, the company now carries more debt. They have a dividend, which CGI does not. He likes the company here, but if you can get it a little lower it would be alright. Periodically this stumbles, and you can pick it up.

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Darren Sissons

Vice Presi, Campbell Lee & Ross...

Price Price
$40.460
Owned Owned
Unknown

TOP PICK
Open Text(OTEX-T) 

August 8, 2017

The stock has fallen. They made some acquisitions, and feels the market is concerned that the steady progression of cash might not quite be as steady as they go through the digestion of these acquisitions. He likes that they can grow and that it trades at a multiple of earnings, not a multiple of cash flow, revenues, etc. Likes the stability and the growth by acquisition. Dividend yield of 1.5%. (Analysts’ price target is $40.)

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The stock has fallen. They made some acquisitions, and feels the market is concerned that the steady progression of cash might not quite be as steady as they go through the digestion of these acquisitions. He likes that they can grow and that it trades at a multiple of earnings, not a multiple of cash flow, revenues, etc. Likes the stability and the growth by acquisition. Dividend yield of 1.5%. (Analysts’ price target is $40.)

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Lyle Stein

Sr. Portfo, Vestcap Investment M...

Price Price
$41.550
Owned Owned
Yes

BUY
Open Text(OTEX-T) 

July 11, 2017

Historically, this is a volatile stock, and its earnings seem to be lumpy. It closed at $40.54, and he has a model price of $54.49, a 37% upside. A perfect example of a trader. If you are a trader, you take your gains and look elsewhere.

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Historically, this is a volatile stock, and its earnings seem to be lumpy. It closed at $40.54, and he has a model price of $54.49, a 37% upside. A perfect example of a trader. If you are a trader, you take your gains and look elsewhere.

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Brian Acker, CA

Chief Exec, Acker Finley Inc....

Price Price
$40.830
Owned Owned
Unknown

HOLD
Open Text(OTEX-T) 

June 30, 2017

When he sees a stock drop 10%, he wonders if he’s on the right track. Things are still lining up for this. His indicators are right at the 0 line so he is expecting it to turn up. Has not sold any of his holdings. If you don’t see this participating in the next few weeks, there might be better places to put your money, but he thinks a long-term trend of the stock is still really good.

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When he sees a stock drop 10%, he wonders if he’s on the right track. Things are still lining up for this. His indicators are right at the 0 line so he is expecting it to turn up. Has not sold any of his holdings. If you don’t see this participating in the next few weeks, there might be better places to put your money, but he thinks a long-term trend of the stock is still really good.

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Hap (Robert) Sn

Chief Port, Castlemoore Inc....

Price Price
$40.930
Owned Owned
Yes

COMMENT
Open Text(OTEX-T) 

June 28, 2017

This is one he generally likes. It typically goes through a cycle where they miss on an earnings report. It hasn’t been caught up as much in this growth FANG thing. Valuation has been hurt a little by recent misses. Trading around 35X earnings and at 8.5X ROE and 16X EV to EBITDA.

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This is one he generally likes. It typically goes through a cycle where they miss on an earnings report. It hasn’t been caught up as much in this growth FANG thing. Valuation has been hurt a little by recent misses. Trading around 35X earnings and at 8.5X ROE and 16X EV to EBITDA.

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Jason Mann

CIO & Co-F, Edgehill Patners...

Price Price
$40.910
Owned Owned
No

WATCH
Open Text(OTEX-T) 

June 27, 2017

Their acquisitions are going to take some time to consolidate and chew on, to get the synergies out and start moving the company forward again. He likes their business model. This is probably presenting an opportunity, but at the same time, that flow of funds has really gone out of resource stocks in Canada, and into anything but. He would be cautious and continue to watch it from here.

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Their acquisitions are going to take some time to consolidate and chew on, to get the synergies out and start moving the company forward again. He likes their business model. This is probably presenting an opportunity, but at the same time, that flow of funds has really gone out of resource stocks in Canada, and into anything but. He would be cautious and continue to watch it from here.

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Ryan Bushell

President, Newhaven Asset Manag...

Price Price
$41.240
Owned Owned
No

BUY
Open Text(OTEX-T) 

June 6, 2017

He likes the name and the sector a lot. Technology is one, if not the best performing sector this year. It has really been strong. Tech is typically an early cycle mover, so once global growth picks up, tech is where you want to go. This company has done really well and continues to do so.

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He likes the name and the sector a lot. Technology is one, if not the best performing sector this year. It has really been strong. Tech is typically an early cycle mover, so once global growth picks up, tech is where you want to go. This company has done really well and continues to do so.

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John Stephenson

President , Stephenson & Company...

Price Price
$43.970
Owned Owned
Unknown

HOLD
Open Text(OTEX-T) 

May 15, 2017

One of the largest Canadian software companies which has a combination of some organic growth along with a consolidation play. Very well-run. The stock has done extremely well, and is probably going to be in a sideways pattern for a while.

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One of the largest Canadian software companies which has a combination of some organic growth along with a consolidation play. Very well-run. The stock has done extremely well, and is probably going to be in a sideways pattern for a while.

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Alex Ruus

Portfolio , Arrow Capital Manage...

Price Price
$44.300
Owned Owned
Unknown

TOP PICK
Open Text(OTEX-T) 

April 10, 2017

There are few pure tech plays that you can have in Canada. This will be a core position in that area. Their story has really been about acquisitions. Thinks the market has not recognized that they do a really good job of recurring revenues, 70% of their business. They’ve made a commitment to double their earnings per share by 2020, and he thinks the current management will do that. (Analysts’ price target is $39.50.)

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There are few pure tech plays that you can have in Canada. This will be a core position in that area. Their story has really been about acquisitions. Thinks the market has not recognized that they do a really good job of recurring revenues, 70% of their business. They’ve made a commitment to double their earnings per share by 2020, and he thinks the current management will do that. (Analysts’ price target is $39.50.)

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Hap (Robert) Sn

Chief Port, Castlemoore Inc....

Price Price
$44.520
Owned Owned
Yes

BUY
Open Text(OTEX-T) 

March 27, 2017

They did a big acquisition recently.  Generally this would concern them, but they have been doing acquisitions for about 20 years.  Their record of integrating them is phenomenal.  He has no concerns about this company.  They can pay down the debt quite quickly.  It is one of his favourite large cap software companies.

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They did a big acquisition recently.  Generally this would concern them, but they have been doing acquisitions for about 20 years.  Their record of integrating them is phenomenal.  He has no concerns about this company.  They can pay down the debt quite quickly.  It is one of his favourite large cap software companies.

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Peter Hodson

CEO & Head, 5i Research Inc....

Price Price
$45.460
Owned Owned
Unknown

COMMENT
Open Text(OTEX-T) 

February 13, 2017

One of the stories he still really likes. It has done really well lately and is trading at the high end of the range. A software company that has single digit organic growth sort of, not great, but alright. But they’ve always been able to augment that with acquisitions because of the free cash flow they generate. They roll in an acquisition, cut the costs, and continue to grow. You can only do that for so long, but these guys have continually been able to do that. Very strong management. The only issue is that growth will probably hit a wall at some point. The EMC deal is going to give them more earnings growth for the next couple of years. Did a financing, so it is all paid for. Still a good story.

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One of the stories he still really likes. It has done really well lately and is trading at the high end of the range. A software company that has single digit organic growth sort of, not great, but alright. But they’ve always been able to augment that with acquisitions because of the free cash flow they generate. They roll in an acquisition, cut the costs, and continue to grow. You can only do that for so long, but these guys have continually been able to do that. Very strong management. The only issue is that growth will probably hit a wall at some point. The EMC deal is going to give them more earnings growth for the next couple of years. Did a financing, so it is all paid for. Still a good story.

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John Zechner

Chairman, J. Zechner & Assoc...

Price Price
$44.010
Owned Owned
Yes

PAST TOP PICK
Open Text(OTEX-T) 

January 18, 2017

(A Top Pick Jan 15/16. Up 28.69%.) There is a split coming here at the end of this month. One of his favourite software companies. It is very cheap in terms of valuation. Pays a dividend. Makes great acquisitions. They are really hitting it out of the park in terms of facilitating compliance across multi-industries.

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(A Top Pick Jan 15/16. Up 28.69%.) There is a split coming here at the end of this month. One of his favourite software companies. It is very cheap in terms of valuation. Pays a dividend. Makes great acquisitions. They are really hitting it out of the park in terms of facilitating compliance across multi-industries.

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Peter Hodson

CEO & Head, 5i Research Inc....

Price Price
$83.950
Owned Owned
No

PAST TOP PICK
Open Text(OTEX-T) 

January 16, 2017

(Top Pick Feb12/16, Up 29.45%) Don’t buy now, but it has become less cheap than when he first bought it.  PE is now 26%.  The top could be defined by price momentum, he exited very recently.  You could buy on weakness now.

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(Top Pick Feb12/16, Up 29.45%) Don’t buy now, but it has become less cheap than when he first bought it.  PE is now 26%.  The top could be defined by price momentum, he exited very recently.  You could buy on weakness now.

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Jason Mann

CIO & Co-F, Edgehill Patners...

Price Price
$84.650
Owned Owned
No

PAST TOP PICK
Open Text(OTEX-T) 

December 28, 2016

(A Top Pick Nov 26/15. Up 33.8%.) It broke out above its $76 range, and then came back and tested it a couple of times. He expects it to get above $88. His target is $91. This is still one of his top technology picks. Thinks it could end up being acquired at some point.

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(A Top Pick Nov 26/15. Up 33.8%.) It broke out above its $76 range, and then came back and tested it a couple of times. He expects it to get above $88. His target is $91. This is still one of his top technology picks. Thinks it could end up being acquired at some point.

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Hap (Robert) Sn

Chief Port, Castlemoore Inc....

Price Price
$83.390
Owned Owned
Yes

BUY
Open Text(OTEX-T) 

September 23, 2016

(Market Call Minute.) A very strong company.

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(Market Call Minute.) A very strong company.

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John Stephenson

President , Stephenson & Company...

Price Price
$86.510
Owned Owned
Unknown

BUY
Open Text(OTEX-T) 

September 2, 2016

(Market Call Minute.) Has owned this since their earnings miss a year ago. Strong on all 3 metrics, valuation, momentum and volatility. Good growth in acquisitions.

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(Market Call Minute.) Has owned this since their earnings miss a year ago. Strong on all 3 metrics, valuation, momentum and volatility. Good growth in acquisitions.

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Jason Mann

CIO & Co-F, Edgehill Patners...

Price Price
$82.880
Owned Owned
Yes

PAST TOP PICK
Open Text(OTEX-T) 

August 15, 2016

(A Top Pick Aug 10/15. Up 36.86%.) This continues to do what it has always done. They layer in the acquisitions. They are great on the software. Have a lot of excess cash flow, and use it for acquisitions. Valuation is not that high.

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(A Top Pick Aug 10/15. Up 36.86%.) This continues to do what it has always done. They layer in the acquisitions. They are great on the software. Have a lot of excess cash flow, and use it for acquisitions. Valuation is not that high.

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John Zechner

Chairman, J. Zechner & Assoc...

Price Price
$81.150
Owned Owned
Yes

PAST TOP PICK
Open Text(OTEX-T) 

July 22, 2016

(A Top Pick Aug 10/15. Up 35.9%.) They have done what they have always done. A good suite of products and they continue to add and make acquisitions. Have done a good job of moving to cloud based services.

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(A Top Pick Aug 10/15. Up 35.9%.) They have done what they have always done. A good suite of products and they continue to add and make acquisitions. Have done a good job of moving to cloud based services.

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John Zechner

Chairman, J. Zechner & Assoc...

Price Price
$80.760
Owned Owned
Yes

PAST TOP PICK
Open Text(OTEX-T) 

June 20, 2016

(A Top Pick Aug 10/15. Up 29.57%.) Just announced an acquisition of Customers Communications Management assets from Hewlett-Packard. They continue to do this combination of growing organically as well as adding acquisitions of product portfolios. A strategy that has worked for them for a long time.

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(A Top Pick Aug 10/15. Up 29.57%.) Just announced an acquisition of Customers Communications Management assets from Hewlett-Packard. They continue to do this combination of growing organically as well as adding acquisitions of product portfolios. A strategy that has worked for them for a long time.

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John Zechner

Chairman, J. Zechner & Assoc...

Price Price
$77.330
Owned Owned
Yes

BUY
Open Text(OTEX-T) 

June 17, 2016

One of the few tech stocks he owns, and it has been working well for him. This company grows mostly by making small acquisitions. He likes the company and management, and is still buying for new clients.

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One of the few tech stocks he owns, and it has been working well for him. This company grows mostly by making small acquisitions. He likes the company and management, and is still buying for new clients.

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Norman Levine

Managing D, Portfolio Management...

Price Price
$75.260
Owned Owned
Yes

COMMENT
Open Text(OTEX-T) 

May 25, 2016

Recently added this to his model portfolio. Shifted some weight from some of the US tech stocks back to Canada.

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Recently added this to his model portfolio. Shifted some weight from some of the US tech stocks back to Canada.

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Michael Decter

President , Lawrence Decter Inve...

Price Price
$75.380
Owned Owned
Yes

COMMENT
Open Text(OTEX-T) 

April 26, 2016

Not a name he has spent a lot of time looking at. He tends to focus on mid-cap’s. However, there is a scarcity value in Canada for Tech stocks that have sales of over $1 billion, and this is one of them. It is always a potential take out candidate.

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Not a name he has spent a lot of time looking at. He tends to focus on mid-cap’s. However, there is a scarcity value in Canada for Tech stocks that have sales of over $1 billion, and this is one of them. It is always a potential take out candidate.

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Jerome Hass

Portfolio , Lightwater Partners...

Price Price
$68.650
Owned Owned
No

COMMENT
Open Text(OTEX-T) 

April 1, 2016

Trading at less than 3X Price to Book. Looks attractive on a P/E basis and has great free cash flow value to enterprise value. Likes in the short term, but wouldn’t treat this as a hold for 5 – 10 years.

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Trading at less than 3X Price to Book. Looks attractive on a P/E basis and has great free cash flow value to enterprise value. Likes in the short term, but wouldn’t treat this as a hold for 5 – 10 years.

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Allan Meyer

VP & Portf, Wickham Investment C...

Price Price
$67.380
Owned Owned
Unknown

TOP PICK
Open Text(OTEX-T) 

February 12, 2016

(Canada is cheap from a cyclical basis, so his 3 Top Picks are ones that fit that theme and are cheap with good price momentum.) Canada’s largest software company and a leader in management software. A growth through acquisition story. Scores in the top 10% on price momentum. Had a big drop a couple of quarters ago when they warned on earnings, and then went ahead and beat on earnings. They do a very good job of managing growth and earnings expectations. 14% ROE and 20X PE. Dividend yield of 1.68%.

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(Canada is cheap from a cyclical basis, so his 3 Top Picks are ones that fit that theme and are cheap with good price momentum.) Canada’s largest software company and a leader in management software. A growth through acquisition story. Scores in the top 10% on price momentum. Had a big drop a couple of quarters ago when they warned on earnings, and then went ahead and beat on earnings. They do a very good job of managing growth and earnings expectations. 14% ROE and 20X PE. Dividend yield of 1.68%.

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Jason Mann

CIO & Co-F, Edgehill Patners...

Price Price
$66.410
Owned Owned
Yes

TOP PICK
Open Text(OTEX-T) 

January 15, 2016

A software company that does all sorts of collaboration customer service software, basically anything interactive to help an organization improve its productivity. They are very big in the Cloud moving all the data into the Cloud and data management, etc. Have beaten earnings estimations in 7 of the last 8 quarters. Strong balance sheet and is trading at 12X earnings. If the world goes into a slowdown, they can use their balance sheet and start picking off companies left right and centre and grow their business that way. Earnings could potentially double over the next number of years. Dividend yield of 1.63%.

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A software company that does all sorts of collaboration customer service software, basically anything interactive to help an organization improve its productivity. They are very big in the Cloud moving all the data into the Cloud and data management, etc. Have beaten earnings estimations in 7 of the last 8 quarters. Strong balance sheet and is trading at 12X earnings. If the world goes into a slowdown, they can use their balance sheet and start picking off companies left right and centre and grow their business that way. Earnings could potentially double over the next number of years. Dividend yield of 1.63%.

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Peter Hodson

CEO & Head, 5i Research Inc....

Price Price
$66.420
Owned Owned
No

DON'T BUY
Open Text(OTEX-T) 

December 29, 2015

Dividend yield of 1.6% and the payout ratio relative to the amount of cash flow they have is quite low, so there is potential they could increase the dividend. However the underlying business isn’t ripping the leather off the ball as far as growth goes, and that is the whole purpose of dividend investing. Earnings are supposed to grow from $4.75 to $4.92, a 4% growth, compared to 13.8% PE, and you end up trying to have a growth rate that is at least above your PE, and that is not happening. In the top 15% of his database, but not a stock on a Buy list.

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Dividend yield of 1.6% and the payout ratio relative to the amount of cash flow they have is quite low, so there is potential they could increase the dividend. However the underlying business isn’t ripping the leather off the ball as far as growth goes, and that is the whole purpose of dividend investing. Earnings are supposed to grow from $4.75 to $4.92, a 4% growth, compared to 13.8% PE, and you end up trying to have a growth rate that is at least above your PE, and that is not happening. In the top 15% of his database, but not a stock on a Buy list.

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Robert McWhirte

President, Selective Asset Mana...

Price Price
$68.260
Owned Owned
Unknown

BUY
Open Text(OTEX-T) 

December 23, 2015

(Market Call Minute.) Reasonably priced.

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(Market Call Minute.) Reasonably priced.

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Jason Donville

President , Donville Kent Asset ...

Price Price
$67.860
Owned Owned
Yes

TOP PICK
Open Text(OTEX-T) 

November 26, 2015

An example in the Canadian market where we have something pro-cyclically that is working. It can be a reasonably volatile stock and would be a way you could hedge your portfolio besides having defensives and industrials. Chart shows it has a base rate around $60 and is just breaking out a bit above the trend channel. Earnings have been fantastic.

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An example in the Canadian market where we have something pro-cyclically that is working. It can be a reasonably volatile stock and would be a way you could hedge your portfolio besides having defensives and industrials. Chart shows it has a base rate around $60 and is just breaking out a bit above the trend channel. Earnings have been fantastic.

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Hap (Robert) Sn

Chief Port, Castlemoore Inc....

Price Price
$64.000
Owned Owned
Yes

TOP PICK
Open Text(OTEX-T) 

August 10, 2015

He got out earlier this year when orders dropped off, and then the stock checked back.  Last quarter they reduced estimates and then hit their original numbers anyway so the stock rallied.  They continue to grow by acquisitions.  The story is holding together quite well so he went back in and bought it.

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He got out earlier this year when orders dropped off, and then the stock checked back.  Last quarter they reduced estimates and then hit their original numbers anyway so the stock rallied.  They continue to grow by acquisitions.  The story is holding together quite well so he went back in and bought it.

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John Zechner

Chairman, J. Zechner & Assoc...

Price Price
$60.290
Owned Owned
Yes

COMMENT
Open Text(OTEX-T) 

August 4, 2015

This had 5 years of solid performance, and then missed 2 quarters in a row back to back. Those investors focused on short-term panicked and sold the stock down. The stock went down 20%-25% and was washed out. It was trading at about 10 or 11 times earnings, but was still the exact same company it was. Last week they came out with a quarter and totally destroyed expectations. The reason was, no one was expecting anything because of the last 2 quarters. Even at 10 or 11 times earnings, it is still profitable and is still a great company. A pretty good tech stock.

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