Axa S.A. Buys 107,375 Shares of Open Text Co. (NASDAQ:OTEX)

AXA S.A. increased its position in shares of Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 522.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,934 shares of the software maker's stock after purchasing an additional 107,375 shares during the period. AXA S.A.'s holdings in Open Text were worth $3,623,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OTEX. Norges Bank acquired a new position in shares of Open Text in the 4th quarter worth approximately $93,216,000. Arrowstreet Capital Limited Partnership boosted its holdings in Open Text by 75.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,994,675 shares of the software maker's stock worth $169,555,000 after buying an additional 2,586,549 shares in the last quarter. Criteria Caixa S.A.U. acquired a new position in Open Text in the fourth quarter worth approximately $32,890,000. Brandes Investment Partners LP increased its holdings in shares of Open Text by 29.2% in the fourth quarter. Brandes Investment Partners LP now owns 4,504,139 shares of the software maker's stock valued at $127,557,000 after buying an additional 1,017,065 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Open Text by 9.5% during the 4th quarter. First Trust Advisors LP now owns 7,275,908 shares of the software maker's stock valued at $205,925,000 after acquiring an additional 632,437 shares during the last quarter. Institutional investors own 70.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on OTEX shares. TD Securities cut their target price on Open Text from $38.00 to $35.00 and set a "buy" rating on the stock in a research report on Sunday, February 9th. CIBC reduced their price objective on shares of Open Text from $33.00 to $31.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Royal Bank of Canada decreased their target price on shares of Open Text from $31.00 to $30.00 and set a "sector perform" rating for the company in a report on Tuesday, April 22nd. StockNews.com upgraded shares of Open Text from a "hold" rating to a "buy" rating in a report on Tuesday. Finally, Citigroup raised their price objective on shares of Open Text from $29.00 to $43.00 and gave the stock a "negative" rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $32.30.

Open Text Stock Up 0.8%

NASDAQ OTEX traded up $0.21 during trading on Tuesday, reaching $28.15. The company's stock had a trading volume of 372,220 shares, compared to its average volume of 817,231. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $7.31 billion, a PE ratio of 11.44 and a beta of 1.15. Open Text Co. has a 1-year low of $22.79 and a 1-year high of $34.20. The business has a 50-day moving average price of $25.87 and a 200-day moving average price of $27.81.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last released its quarterly earnings data on Wednesday, April 30th. The software maker reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.01. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.28 billion. Open Text had a net margin of 12.21% and a return on equity of 23.23%. Open Text's quarterly revenue was down 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.94 EPS. On average, research analysts forecast that Open Text Co. will post 3.45 earnings per share for the current fiscal year.

Open Text Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.2625 per share. The ex-dividend date is Friday, June 6th. This represents a $1.05 annualized dividend and a yield of 3.73%. Open Text's dividend payout ratio (DPR) is currently 42.86%.

Open Text Company 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.