ASR Vermogensbeheer N.V. Has $6.19 Million Holdings in Open Text Corporation $OTEX

Key Points

• ASR Vermogensbeheer N.V. increased its holdings in Open Text Corporation by 51.7% during the second quarter, reaching a total of 212,397 shares valued at approximately $6.19 million.
• Open Text recently declared a quarterly dividend increase to $0.275 per share, with an annualized yield of 2.9% and a payout ratio of 66.67%.
• Open Text reported earnings of $0.97 per share for the last quarter, exceeding analysts' expectations and indicating a year-over-year revenue decline of 3.8%.

ASR Vermogensbeheer N.V. grew its position in shares of Open Text Corporation (NASDAQ:OTEX - Free Report) TSE: OTC by 51.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 212,397 shares of the software maker's stock after buying an additional 72,397 shares during the quarter. ASR Vermogensbeheer N.V. owned approximately 0.08% of Open Text worth $6,194,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of OTEX. Vanguard Group Inc. boosted its holdings in shares of Open Text by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 11,151,279 shares of the software maker's stock worth $281,447,000 after acquiring an additional 639,514 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Open Text by 9.2% in the first quarter. Mackenzie Financial Corp now owns 5,876,003 shares of the software maker's stock worth $148,299,000 after purchasing an additional 492,897 shares in the last quarter. Letko Brosseau & Associates Inc. grew its holdings in shares of Open Text by 11.8% during the first quarter. Letko Brosseau & Associates Inc. now owns 4,860,805 shares of the software maker's stock worth $122,664,000 after purchasing an additional 512,050 shares during the last quarter. Value Partners Investments Inc. increased its stake in shares of Open Text by 9.8% in the second quarter. Value Partners Investments Inc. now owns 2,561,601 shares of the software maker's stock valued at $74,709,000 after buying an additional 228,062 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its holdings in shares of Open Text by 0.3% in the first quarter. 1832 Asset Management L.P. now owns 2,365,600 shares of the software maker's stock valued at $59,755,000 after buying an additional 6,921 shares during the last quarter. Institutional investors own 70.37% of the company's stock.

Open Text Price Performance

Shares of OTEX opened at $37.66 on Friday. The stock has a market cap of $9.52 billion, a P/E ratio of 22.82 and a beta of 1.17. Open Text Corporation has a 1 year low of $22.79 and a 1 year high of $39.04. The stock's 50-day moving average price is $33.27 and its two-hundred day moving average price is $29.43. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.61.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last announced its quarterly earnings results on Thursday, August 7th. The software maker reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.86 by $0.11. Open Text had a net margin of 8.43% and a return on equity of 22.52%. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period last year, the company posted $0.98 EPS. Open Text's revenue for the quarter was down 3.8% on a year-over-year basis. On average, equities analysts predict that Open Text Corporation will post 3.45 earnings per share for the current year.

Open Text Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were given a dividend of $0.275 per share. This is a positive change from Open Text's previous quarterly dividend of $0.26. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, September 5th. Open Text's payout ratio is 66.67%.

Analyst Ratings Changes

OTEX has been the subject of a number of research analyst reports. Barclays reaffirmed a "positive" rating on shares of Open Text in a research note on Friday, August 8th. National Bankshares upgraded shares of Open Text from a "sector perform" rating to an "outperform" rating and boosted their price objective for the stock from $34.00 to $45.00 in a research report on Monday, September 15th. Scotiabank upgraded Open Text from a "sector perform" rating to an "outperform" rating and increased their price objective for the company from $35.00 to $50.00 in a research report on Wednesday, September 24th. National Bank Financial upgraded Open Text from a "sector perform" rating to an "outperform" rating and set a $45.00 target price for the company in a research report on Monday, September 15th. Finally, Jefferies Financial Group lowered Open Text from a "buy" rating to a "hold" rating and set a $33.00 price target on the stock. in a research note on Tuesday, August 12th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $36.55.

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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