Open Text Corporation (NASDAQ:OTEX) Stake Increased by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. grew its holdings in shares of Open Text Corporation (NASDAQ:OTEX - Free Report) TSE: OTC by 8.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 357,785 shares of the software maker's stock after purchasing an additional 28,025 shares during the quarter. Crossmark Global Holdings Inc. owned approximately 0.14% of Open Text worth $9,038,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in OTEX. Bank of New York Mellon Corp lifted its stake in shares of Open Text by 2.2% during the 4th quarter. Bank of New York Mellon Corp now owns 352,405 shares of the software maker's stock worth $9,980,000 after purchasing an additional 7,728 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Open Text by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 677,709 shares of the software maker's stock worth $19,170,000 after buying an additional 5,177 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Open Text in the 4th quarter worth $3,572,000. Amundi raised its position in shares of Open Text by 15.3% in the 4th quarter. Amundi now owns 526,409 shares of the software maker's stock worth $14,671,000 after buying an additional 69,686 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of 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 buying an additional 947 shares during the period. Hedge funds and other institutional investors own 70.37% of the company's stock.

Open Text Stock Down 4.1%

NASDAQ:OTEX traded down $1.21 during mid-day trading on Friday, hitting $28.02. The company had a trading volume of 1,097,626 shares, compared to its average volume of 959,816. The business has a fifty day simple moving average of $28.38 and a 200-day simple moving average of $27.45. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.54. Open Text Corporation has a 1 year low of $22.79 and a 1 year high of $34.20. The firm has a market capitalization of $7.19 billion, a price-to-earnings ratio of 11.44 and a beta of 1.13.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last announced its earnings results on Wednesday, April 30th. The software maker reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.01. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.28 billion. Open Text had a return on equity of 22.49% and a net margin of 12.55%. The company's revenue was down 13.3% on a year-over-year basis. During the same period last year, the firm earned $0.94 earnings per share. Equities analysts forecast that Open Text Corporation will post 3.45 earnings per share for the current fiscal year.

Open Text Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were paid a dividend of $0.2625 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.05 annualized dividend and a dividend yield of 3.75%. Open Text's dividend payout ratio is presently 42.86%.

Wall Street Analyst Weigh In

OTEX has been the topic of several research reports. Wall Street Zen raised Open Text from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. Barclays cut their target price on Open Text from $36.00 to $29.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. BMO Capital Markets cut their target price 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. CIBC cut their target price on Open Text from $33.00 to $31.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Finally, Royal Bank Of Canada cut their target price on Open Text from $31.00 to $30.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Open Text currently 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.