D. E. Shaw & Co. Inc. Has $19.14 Million Stock Position in Open Text Co. (NASDAQ:OTEX)

D. E. Shaw & Co. Inc. increased its position in shares of Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 1,084.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 676,510 shares of the software maker's stock after acquiring an additional 619,384 shares during the quarter. D. E. Shaw & Co. Inc. owned about 0.26% of Open Text worth $19,142,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. IFP Advisors Inc lifted its stake in shares of Open Text by 103.8% in the 4th quarter. IFP Advisors Inc now owns 1,011 shares of the software maker's stock valued at $29,000 after purchasing an additional 515 shares during the period. Blue Trust Inc. increased its holdings in Open Text by 40.8% in the fourth quarter. Blue Trust Inc. now owns 1,373 shares of the software maker's stock valued at $39,000 after purchasing an additional 398 shares during the last quarter. Aquatic Capital Management LLC bought a new position in Open Text during the fourth quarter worth about $60,000. Generali Asset Management SPA SGR bought a new position in Open Text during the fourth quarter worth about $62,000. Finally, Allworth Financial LP grew its position in shares of Open Text by 20.7% during the 4th quarter. Allworth Financial LP now owns 2,564 shares of the software maker's stock worth $73,000 after buying an additional 439 shares during the period. Institutional investors own 70.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on OTEX shares. Citigroup boosted their price objective on shares of Open Text from $29.00 to $43.00 and gave the company a "negative" rating in a report on Friday, May 2nd. UBS Group decreased their price target on shares of Open Text from $32.00 to $28.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. National Bankshares dropped their price objective on Open Text from $38.00 to $34.00 and set a "sector perform" rating on the stock in a research note on Friday, April 25th. Scotiabank decreased their target price on Open Text from $35.00 to $30.00 and set a "sector perform" rating for the company in a research note on Monday, April 28th. Finally, BMO Capital Markets dropped their price target on Open Text from $30.00 to $28.00 and set a "market perform" rating on the stock in a research report on Friday, May 2nd. One investment 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. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $32.30.

Open Text Stock Up 2.9%

Shares of Open Text stock opened at $27.94 on Tuesday. The firm has a market cap of $7.25 billion, a PE ratio of 11.36 and a beta of 1.15. The business's 50 day simple moving average is $25.87 and its 200 day simple moving average is $27.81. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.87 and a current ratio of 0.87. Open Text Co. has a 52-week low of $22.79 and a 52-week high of $34.20.

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

Open Text Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given 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 3.76%. Open Text's dividend payout ratio (DPR) is presently 42.86%.

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.

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