Criteria Caixa S.A.U. Invests $32.89 Million in Open Text Co. (NASDAQ:OTEX)

Criteria Caixa S.A.U. purchased a new position in Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,161,369 shares of the software maker's stock, valued at approximately $32,890,000. Open Text accounts for 4.7% of Criteria Caixa S.A.U.'s portfolio, making the stock its 10th largest holding. Criteria Caixa S.A.U. owned 0.44% of Open Text as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Choreo LLC purchased a new stake in shares of Open Text in the 4th quarter valued at approximately $564,000. Franklin Resources Inc. lifted its position in shares of Open Text by 19.9% during the 3rd quarter. Franklin Resources Inc. now owns 205,891 shares of the software maker's stock worth $7,086,000 after purchasing an additional 34,135 shares during the last quarter. Canoe Financial LP lifted its position in shares of Open Text by 127.3% during the 4th quarter. Canoe Financial LP now owns 150,000 shares of the software maker's stock worth $4,242,000 after purchasing an additional 84,000 shares during the last quarter. Wedge Capital Management L L P NC acquired a new position in shares of Open Text during the 4th quarter worth about $2,372,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Open Text by 30.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 166,476 shares of the software maker's stock worth $4,705,000 after purchasing an additional 39,266 shares during the last quarter. 70.37% of the stock is owned by institutional investors and hedge funds.

Open Text Stock Down 0.3 %

Shares of NASDAQ OTEX traded down $0.07 during mid-day trading on Wednesday, reaching $27.10. 1,621,701 shares of the company's stock traded hands, compared to its average volume of 817,495. The stock has a market cap of $7.04 billion, a P/E ratio of 11.02 and a beta of 1.13. The business has a 50-day simple moving average of $25.75 and a 200 day simple moving average of $28.26. Open Text Co. has a 1-year low of $22.79 and a 1-year high of $35.97. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.87 and a quick ratio of 0.87.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last announced its quarterly earnings data on Thursday, February 6th. The software maker reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.10. Open Text had a return on equity of 23.23% and a net margin of 12.21%. On average, analysts expect that Open Text Co. will post 3.45 EPS for the current fiscal year.

Open Text Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were paid a $0.2625 dividend. This represents a $1.05 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date of this dividend was Friday, March 7th. This is a boost from Open Text's previous quarterly dividend of $0.26. Open Text's dividend payout ratio is currently 42.68%.

Wall Street Analyst Weigh In

OTEX has been the topic of several analyst reports. TD Securities lowered their price objective on Open Text from $38.00 to $35.00 and set a "buy" rating on the stock in a research note on Sunday, February 9th. Royal Bank of Canada reduced their price objective on Open Text from $31.00 to $30.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 22nd. Barclays cut their target price on Open Text from $36.00 to $29.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. National Bankshares decreased their target price on Open Text from $38.00 to $34.00 and set a "sector perform" rating for the company in a research report on Friday, April 25th. Finally, Citigroup boosted their price objective on Open Text from $30.00 to $32.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $33.64.

Open Text Profile

Open Text Corporation provides information management software and solutions. The company offers content services, which includes content collaboration and intelligent capture to records management, collaboration, e-signatures, and archiving; and operates experience cloud platform that provides customer experience and web content management, digital asset management, customer analytics, AI and insights, e-discovery, digital fax, omnichannel communications, secure messaging, and voice of customer, as well as customer journey, testing, and segmentation.