RTD Financial Advisors Inc. Makes New Investment in Open Text Co. (NASDAQ:OTEX)

RTD Financial Advisors Inc. bought a new stake in Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 22,766 shares of the software maker's stock, valued at approximately $575,000.

Other large investors also recently modified their holdings of the company. JARISLOWSKY FRASER Ltd lifted its holdings in Open Text by 11.8% in the 4th quarter. JARISLOWSKY FRASER Ltd now owns 18,547,256 shares of the software maker's stock worth $522,879,000 after buying an additional 1,957,695 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Open Text by 9.5% in the 4th quarter. First Trust Advisors LP now owns 7,275,908 shares of the software maker's stock worth $205,925,000 after buying an additional 632,437 shares during the last quarter. Cooke & Bieler LP boosted its stake in Open Text by 6.6% in the fourth quarter. Cooke & Bieler LP now owns 6,308,967 shares of the software maker's stock valued at $178,670,000 after acquiring an additional 389,220 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Open Text by 75.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,994,675 shares of the software maker's stock worth $169,555,000 after purchasing an additional 2,586,549 shares during the period. Finally, Turtle Creek Asset Management Inc. lifted its stake in Open Text by 2.1% in the fourth quarter. Turtle Creek Asset Management Inc. now owns 5,366,703 shares of the software maker's stock valued at $151,985,000 after buying an additional 109,550 shares during the last quarter. 70.37% of the stock is currently owned by hedge funds and other institutional investors.

Open Text Price Performance

Shares of NASDAQ OTEX traded down $0.76 during midday trading on Friday, reaching $28.26. The company's stock had a trading volume of 1,479,721 shares, compared to its average volume of 915,731. Open Text Co. has a one year low of $22.79 and a one year high of $34.20. The company has a market cap of $7.32 billion, a price-to-earnings ratio of 11.49 and a beta of 1.13. The company has a 50 day moving average price of $27.11 and a 200 day moving average price of $27.55. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.50.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last posted its quarterly earnings results 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 company had revenue of $1.25 billion for the quarter, compared to analysts' expectations of $1.28 billion. Open Text had a return on equity of 23.23% and a net margin of 12.21%. The firm's revenue was down 13.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.94 earnings per share. On average, equities research analysts expect that Open Text Co. will post 3.45 EPS for the current year.

Open Text Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.2625 per share. This represents a $1.05 annualized dividend and a dividend yield of 3.72%. The ex-dividend date is Friday, June 6th. Open Text's dividend payout ratio is 42.86%.

Wall Street Analysts Forecast Growth

OTEX has been the subject of a number of analyst reports. UBS Group reduced their price target on Open Text from $32.00 to $28.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Citigroup upped their price objective on shares of Open Text from $29.00 to $43.00 and gave the stock a "negative" rating in a report on Friday, May 2nd. Barclays lowered their target price on shares of 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. Wall Street Zen upgraded shares of Open Text from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. Finally, Scotiabank decreased their price objective on shares of Open Text from $35.00 to $30.00 and set a "sector perform" rating for the company in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Open Text presently has an average rating of "Hold" and a consensus price target of $32.30.

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.