Crossmark Global Holdings Inc. Has $9.04 Million Holdings in Open Text Corporation (NASDAQ:OTEX)

Crossmark Global Holdings Inc. boosted its holdings in Open Text Corporation (NASDAQ:OTEX - Free Report) TSE: OTC by 8.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 357,785 shares of the software maker's stock after acquiring an additional 28,025 shares during the quarter. Crossmark Global Holdings Inc. owned 0.14% of Open Text worth $9,038,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Open Text by 1.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,637 shares of the software maker's stock valued at $1,857,000 after purchasing an additional 947 shares in the last quarter. Versant Capital Management Inc bought a new position in Open Text during the 1st quarter valued at $26,000. Parallel Advisors LLC boosted its stake in Open Text by 219.3% during the 1st quarter. Parallel Advisors LLC now owns 1,938 shares of the software maker's stock valued at $49,000 after purchasing an additional 1,331 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Open Text by 15.4% during the 4th quarter. Farther Finance Advisors LLC now owns 10,041 shares of the software maker's stock valued at $284,000 after purchasing an additional 1,340 shares in the last quarter. Finally, Stifel Financial Corp boosted its stake in Open Text by 2.2% during the 4th quarter. Stifel Financial Corp now owns 68,511 shares of the software maker's stock valued at $1,940,000 after purchasing an additional 1,453 shares in the last quarter. 70.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. National Bankshares decreased their price target on Open Text from $38.00 to $34.00 and set a "sector perform" rating for the company in a research note on Friday, April 25th. Scotiabank reduced their price objective on Open Text from $35.00 to $30.00 and set a "sector perform" rating for the company in a research note on Monday, April 28th. CIBC reduced their price objective on Open Text from $33.00 to $31.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Royal Bank Of Canada reduced their price objective on Open Text from $31.00 to $30.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 22nd. Finally, Wall Street Zen raised Open Text from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Open Text currently has a consensus rating of "Hold" and an average price target of $32.30.

Open Text Price Performance

NASDAQ OTEX traded down $0.65 during trading on Friday, reaching $28.58. 183,675 shares of the company traded hands, compared to its average volume of 955,259. 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 stock's 50 day moving average price is $28.34 and its two-hundred day moving average price is $27.45. The company has a market cap of $7.33 billion, a price-to-earnings ratio of 11.65 and a beta of 1.13. 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 released its quarterly earnings data on Wednesday, April 30th. The software maker reported $0.82 earnings per share for the quarter, beating analysts' consensus estimates of $0.81 by $0.01. The company had revenue of $1.25 billion for 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 quarterly revenue was down 13.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.94 earnings per share. As a group, analysts anticipate that Open Text Corporation will post 3.45 EPS for the current year.

Open Text Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were issued a $0.2625 dividend. This represents a $1.05 annualized dividend and a dividend yield of 3.67%. The ex-dividend date was Friday, June 6th. Open Text's payout ratio is currently 42.86%.

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.