01:47 PM EDT, 04/17/2018 (MT Newswires) -- Open Text (OTEX) shares are higher on Tuesday after Blue Harbour's Cliff Robbins said the stock trades at a "significant discount" and has taken market share from competitor International Business Machines (IBM).
According to Bloomberg, Robbins commends the company's recent acquisition of Documentum and anticipates shares to appreciate by 40% to 50%.
Robbins was also quoted saying "There's always a potential strategic sale down the road." As of the end of 2017, Blue Harbour owned 9.33 million shares of Open Text.