As generative AI usage becomes more widespread, two-thirds of respondents expressed concern about AI systems collecting their data WATERLOO, ON, Oct. 3, 2024 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX: OTEX) today released the results of Webroot's 2024 GenAI Consumer Trends and Privacy Report. The survey of over 1,000 U.S. consumers found that 39% of consumers use generative AI at least weekly, but significant privacy concerns persist, especially among parents. Additionally, while consumers have taken s ...

The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks. Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use a variety of methods, including tried-and-true ...

Adversaries are taking advantage of weak security fundamentals and a lack of countermeasures to carry out cyberattacks WATERLOO, ON, Sept. 27, 2024 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX: OTEX) today released the results of its 2024 Threat Hunter Perspective. The report found that the collaboration and coordination taking place between nation-states and cybercrime rings to target global supply chains and further geopolitical motives has become a signature trend in the threat landscape. For CISOs, th ...

WATERLOO, ON, Sept. 12, 2024 /PRNewswire/ -- Open Text Corporation (NASDAQ: OTEX, TSX: OTEX) confirmed today that the nominees listed below were re-elected by shareholders at its annual meeting of shareholders (the "Meeting") held virtually today. The detailed results of the vote for the election of directors at the Meeting are set out below. Shareholders holding 221,529,725 common shares of the Company representing 82.60% of the outstanding common shares were present or represented by proxy at the Meeting. ...

New FedRAMP authorized solution provides government organizations a simpler way to deliver IT services WATERLOO, ON, Sept. 11, 2024 /PRNewswire/ -- OpenText (NASDAQ: OTEX, TSX: OTEX) today announced it has received authorization for the OpenText IT Management Platform (ITMX) from the Federal Risk and Authorization Management Program (FedRAMP®), advancing OpenText's commitment to providing comprehensive and modern, government-compliant and secure cloud solutions. With ITMX, government agencies can reduce Tie ...

WATERLOO, ON, Sept. 9, 2024 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX) (TSX: OTEX) today announced that OpenText has been named a Leader in the IDC MarketScape: Worldwide Intelligent Content Services2024 Vendor Assessment (doc #US51467323, September 2024). According to the IDC MarketScape, "OpenText Content Cloud connects content to the digital business, eliminating silos and providing convenient, secure, and compliant remote access to both structured and unstructured data capabilities. Capabilities include I ...

Virtual Summit to Feature Renowned Customer Speakers and In-Depth Sessions on the Future of Data Analytics WATERLOO, ON, Sept. 6, 2024 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX: OTEX), today announced the upcoming OpenText Analytics Digital Summit 2024, a premier virtual event that brings together industry leaders, data experts and technology innovators from around the globe. This year's Summit, which will be held Sept. 10-11, highlights the transformative power of AI and analytics, featuring a disting ...

Open Text Corporation (NASDAQ:OTEX) Citi's 2024 Global TMT Conference Call September 5, 2024 4:40 PM ET Company Participants Madhu Ranganathan - President, CFO & Corporate Development Conference Call Participants Steven Enders - Citi Steven Enders Well, thanks, everybody, for being here. I think we're at the last session of the day for day 2 of the Citi Technology Conference. I'm Steve Enders part of the software research team here. With us today for, I guess, the last session today is Madhu from OpenText. ...

Company and Industry Overview * **Company**: Open Text Corporation (NASDAQ: OTEX) * **Industry**: Information Management, Content Management, Cybersecurity, Business Networks, IT Operations Management, Application Automation, Analytics Key Points and Arguments 1. **Company Transformation and Focus**: * OpenText has undergone significant changes, including acquiring Micro Focus, divesting parts of Micro Focus, and restructuring. * The company now focuses on information management, with a strong emphasis on cloud-based solutions. * Cloud bookings growth is a key indicator of future revenue growth. 2. **Product Groups and Markets**: * OpenText's revenue is divided into several product groups: content (40%), cybersecurity (20%), business network (10%), IT operations management (10%), application automation (15%), and analytics (5%). * Cloud is a key driver of growth across all product groups. 3. **Growth Drivers**: * Cloud bookings growth (25% in fiscal '25) * Expansion of existing product groups (e.g., content, cybersecurity) * New use cases and applications for AI and cloud solutions 4. **Optimization Initiatives**: * OpenText implemented a 2% reduction in force (RIF) to improve efficiency and focus on core competencies. * The company is reinvesting in sales, professional services, and renewal management to drive growth. 5. **Leadership Changes**: * Madhu Ranganathan was promoted to President, CFO, and Corporate Development. * New go-to-market leaders have been appointed to drive sales and cloud adoption. 6. **AI and Cloud**: * AI is a key growth driver for OpenText, with customers seeking solutions to prepare for and leverage AI. * OpenText's Aviator AI products are being integrated into various product groups. 7. **Macroeconomic Environment**: * OpenText's solutions are mission-critical for enterprises, making the company resilient to macroeconomic fluctuations. * The company assumes no improvement in interest rates or currency exchange rates for its financial modeling. 8. **Segment Performance**: * Content and cybersecurity are performing well. * IT operations management is in the early stages of growth. 9. **Q4 Performance**: * The company missed license revenue targets in Q4 due to lost selling time related to the Micro Focus divestiture. * Cloud organic growth was strong in Q4, and the company expects continued growth in fiscal '25. 10. **Capital Allocation**: * OpenText prioritizes share repurchases, dividends, debt reduction, and selective M&A for capital allocation. * The company aims to achieve a net leverage ratio of 2.9x. 11. **OpenText World Conference**: * The conference in November will showcase product innovation, growth strategy, and cloud operations. Additional Important Points * OpenText's cloud gross margin is expected to improve from 59% in Q4 to the low 60s in fiscal '25. * The company expects to generate $1.2 billion to $1.3 billion in free cash flow in fiscal '25. * OpenText remains undervalued and is a strong buy according to the company.

OpenText's (OTEX) Content Cloud and Extended ECM for Engineering solutions are set to optimize processes of Serica Energy. Serica Energy is among the top 10 oil and gas producing companies in the U.K. The collaboration will aid Serica Energy in ensuring the content security necessary for safe operations in the U.K. OpenText's Content Cloud and Extended ECM for Engineering offer a portfolio of comprehensive enterprise content management solutions that enable organizations to streamline, automate and simplify ...