Centaurus Financial Inc. Has $116,000 Holdings in Open Text Co. (NASDAQ:OTEX)

Centaurus Financial Inc. trimmed its position in shares of Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 86.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,102 shares of the software maker's stock after selling 25,330 shares during the quarter. Centaurus Financial Inc.'s holdings in Open Text were worth $116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. IFP Advisors Inc grew its position in Open Text by 103.8% in the fourth quarter. IFP Advisors Inc now owns 1,011 shares of the software maker's stock worth $29,000 after acquiring an additional 515 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Open Text by 40.8% during the fourth quarter. Blue Trust Inc. now owns 1,373 shares of the software maker's stock valued at $39,000 after acquiring an additional 398 shares in the last quarter. Aquatic Capital Management LLC purchased a new position in Open Text during the fourth quarter valued at approximately $60,000. Generali Asset Management SPA SGR purchased a new position in Open Text during the fourth quarter valued at approximately $62,000. Finally, Allworth Financial LP increased its holdings 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. 70.37% of the stock is currently owned by hedge funds and other institutional investors.

Open Text Stock Down 0.2%

OTEX traded down $0.06 during midday trading on Thursday, hitting $28.40. 11,090,790 shares of the company's stock traded hands, compared to its average volume of 904,634. Open Text Co. has a one year low of $22.79 and a one year high of $34.20. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.87 and a quick ratio of 0.87. The stock's fifty day simple moving average is $26.62 and its 200-day simple moving average is $27.59. The company has a market cap of $7.36 billion, a PE ratio of 11.54 and a beta of 1.15.

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 for the quarter, topping analysts' consensus estimates of $0.81 by $0.01. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.28 billion. Open Text had a net margin of 12.21% and a return on equity of 23.23%. The business's revenue was down 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.94 earnings per share. As a group, equities analysts anticipate that Open Text Co. will post 3.45 earnings per share for the current fiscal year.

Open Text Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.70%. Open Text's payout ratio is presently 42.86%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. CIBC dropped their price objective 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 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 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. Barclays cut their price objective on shares of Open Text from $36.00 to $29.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. Finally, BMO Capital Markets cut their price objective on shares of Open Text from $30.00 to $28.00 and set a "market perform" rating for the company in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Open Text has an average 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.