OpenText (OTEX) traded lower by roughly 3% in U.S. trading as investors leaned into the bear case that fiscal-2026 growth remains muted even after portfolio actions and cost programs. Recent analyst commentary has emphasized modest FY26 revenue and cloud-growth expectations and the need for annual recurring revenue to re-accelerate, pressuring sentiment in a tape that has been unforgiving toward low-growth software names. (investing.com)

The decline comes with OpenText still in the middle of a high-profile leadership handoff. The company announced on February 29, 2026 that Ayman Antoun will become Chief Executive Officer effective April 20, 2026, a transition investors are watching closely for signs of a sharper organic-growth plan and clearer execution priorities. (investors.opentext.com)

OpenText also recently agreed to divest Vertica to Rocket Software for $150 million in cash, part of an effort to streamline toward its core information-management and AI strategy. While the deal can simplify the story and provide proceeds for capital allocation, it also removes revenue from a non-core asset, leaving the market focused on whether the remaining portfolio can return to steadier recurring-revenue growth. (investors.opentext.com)