Dye & Durham (DND) & Open Text (OTEX): 2 TSX tech stocks to consider

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Dye & Durham (DND) & Open Text (OTEX): 2 TSX tech stocks to consider

DND & OTEX: 2 TSX tech stocks that should be on your radar
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Highlights

  • The TSX technology index fell by over 19 per cent year-to-date (YTD) as the prevailing market conditions seem to favor safer equity options
  • However, some risk-takers may see this as an opportunity to add healthy tech stocks to their portfolio to reap long-term gains
  • Dye & Durham, which agreed to acquire Link Group (ASX:LNK) on December 21 last year, has submitted all applications for regulatory approvals under the Scheme Implementation Deed, according to the statement released by Link Group on Monday, March 21 

The TSX technology index fell by over 19 per cent year-to-date (YTD) as the prevailing market conditions seem to favor safer equity options. 

However, some risk-takers may see this as an opportunity to add healthy tech stocks to their portfolio to reap long-term gains. 

Today, let us glance at two TSX tech stocks considering the return potential they may offer in the long run. 

Dye & Durham Limited (TSX: DND)

Dye & Durham, which agreed to acquire Link Group (ASX: LNK) on December 21 last year, has submitted all applications for regulatory approvals under the Scheme Implementation Deed along with some updates, according to the statement released by Link Group on Monday, March 21. 

Stocks of Dye & Durham jumped by about 11 per cent in the last week and closed at C$ 28.97 apiece on Monday, March 21. The provider of cloud-based tech solutions made a quarterly dividend payment of C$ 0.019 apiece on March 8. 

Also read: Barrick (ABX), CSU & WCN: Should you buy these TSX dividend stocks? 

Open Text Corporation (TSX: OTEX)

Open Text Corporation saw its net profit grow 234.9 per cent year-over-year (YoY) to US$ 88.3 million in Q2 FY2022, based on Generally Accepted Accounting Principles (GAAP). 

The technology company will also pay a quarterly dividend of US$ 0.221 on March 25.

Open Text Corporation (TSX: OTEX)  Q2 FY2022 results

The OTEX stock closed at C$ 54.40 apiece on Monday, noting a gain of over three per cent in the past one week. 

Bottom line

Dye & Durham and Open Text also dole out a quarterly dividend to their shareholders, which may be an additional perk to investors seeking tech stock exposure. 

Also read: DIDI Global (DIDI) rose 35% this week. A Chinese tech stock to buy? 

Please note, the above content constitutes a very preliminary observation based on the industry, and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks. 

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