RTD Financial Advisors Inc. Takes Position in Open Text Corporation (NASDAQ:OTEX)

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

Several other institutional investors and hedge funds have also bought and sold shares of OTEX. Blue Trust Inc. grew its position in shares of Open Text by 40.8% during the 4th 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 in the last quarter. Allworth Financial LP boosted its stake in Open Text by 20.7% during the fourth quarter. Allworth Financial LP now owns 2,564 shares of the software maker's stock valued at $73,000 after buying an additional 439 shares during the period. IFP Advisors Inc grew its position in Open Text by 103.8% during the fourth quarter. IFP Advisors Inc now owns 1,011 shares of the software maker's stock worth $29,000 after buying an additional 515 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Open Text by 1.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,637 shares of the software maker's stock worth $1,857,000 after acquiring an additional 947 shares during the last quarter. Finally, Versant Capital Management Inc purchased a new stake in shares of Open Text in the 1st quarter valued at about $26,000. 70.37% of the stock is currently owned by hedge funds and other institutional investors.

Open Text Trading Down 0.8%

NASDAQ:OTEX traded down $0.24 during trading hours on Tuesday, reaching $28.28. The company's stock had a trading volume of 1,455,504 shares, compared to its average volume of 921,474. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market capitalization of $7.32 billion, a price-to-earnings ratio of 11.54 and a beta of 1.13. The firm has a 50-day simple moving average of $27.27 and a 200-day simple moving average of $27.50. Open Text Corporation has a 1 year low of $22.79 and a 1 year high of $34.20.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last announced 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 return on equity of 22.49% and a net margin of 12.55%. The firm had revenue of $1.25 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same period last year, the firm earned $0.94 earnings per share. The company's revenue for the quarter was down 13.3% compared to the same quarter last year. Research analysts expect that Open Text Corporation will post 3.45 EPS for the current fiscal year.

Open Text Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a $0.2625 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.05 dividend on an annualized basis and a yield of 3.71%. Open Text's dividend payout ratio (DPR) is currently 42.86%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on OTEX. National Bankshares cut their price objective on Open Text from $38.00 to $34.00 and set a "sector perform" rating for the company in a report on Friday, April 25th. CIBC decreased their price target on shares of Open Text from $33.00 to $31.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Scotiabank lowered their price objective on shares of Open Text from $35.00 to $30.00 and set a "sector perform" rating on the stock in a research report on Monday, April 28th. 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, Royal Bank Of Canada reduced their target price on Open Text from $31.00 to $30.00 and set a "sector perform" rating on the stock in a research note on Tuesday, April 22nd. One equities 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's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $32.30.

About Open Text

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.