Dimensional Fund Advisors LP Purchases 802,276 Shares of Open Text Corporation $OTEX

Dimensional Fund Advisors LP grew its position in Open Text Corporation (NASDAQ:OTEX - Free Report) TSE: OTC by 24.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,142,610 shares of the software maker's stock after buying an additional 802,276 shares during the quarter. Dimensional Fund Advisors LP owned 1.71% of Open Text worth $92,120,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Goldman Sachs Group Inc. raised its position in Open Text by 75.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,437,335 shares of the software maker's stock valued at $36,307,000 after purchasing an additional 619,527 shares in the last quarter. United Services Automobile Association bought a new stake in Open Text during the 1st quarter worth $213,000. EverSource Wealth Advisors LLC increased its holdings in Open Text by 39.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,005 shares of the software maker's stock worth $59,000 after purchasing an additional 570 shares in the last quarter. Cerity Partners LLC increased its stake in shares of Open Text by 3.4% in the second quarter. Cerity Partners LLC now owns 49,003 shares of the software maker's stock valued at $1,431,000 after buying an additional 1,612 shares during the period. Finally, Qube Research & Technologies Ltd grew its holdings in Open Text by 16.8% during the 2nd quarter. Qube Research & Technologies Ltd now owns 46,500 shares of the software maker's stock worth $1,360,000 after acquiring an additional 6,700 shares during the last quarter. Institutional investors and hedge funds own 70.37% of the company's stock.

Open Text Stock Performance

Shares of OTEX stock opened at $25.88 on Thursday. The firm has a 50 day moving average of $22.74 and a 200-day moving average of $23.87. The company has a market cap of $6.27 billion, a price-to-earnings ratio of 12.62 and a beta of 1.04. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.56. Open Text Corporation has a 52 week low of $19.77 and a 52 week high of $39.90.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last released its earnings results on Thursday, May 7th. The software maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.94 by $0.07. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.26 billion. Open Text had a net margin of 9.91% and a return on equity of 24.77%. Open Text's quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.82 EPS. On average, equities analysts forecast that Open Text Corporation will post 4.05 earnings per share for the current year.

Open Text Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, June 5th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Friday, June 5th. Open Text's dividend payout ratio is 53.66%.

Analysts Set New Price Targets

OTEX has been the topic of several analyst reports. Barclays boosted their price objective on shares of Open Text from $25.00 to $27.00 and gave the stock an "equal weight" rating in a research note on Monday, May 11th. UBS Group set a $25.00 price objective on Open Text in a research report on Friday, May 8th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Open Text in a report on Wednesday, June 24th. Royal Bank Of Canada lowered their price target on shares of Open Text from $30.00 to $27.00 and set a "sector perform" rating for the company in a report on Friday, May 8th. Finally, Raymond James Financial decreased their price objective on shares of Open Text from $42.00 to $35.00 and set an "outperform" rating for the company in a research report on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $33.67.

Open Text Company Profile

Open Text Corporation is a Canadian enterprise information management (EIM) software company that develops solutions for organizations seeking to manage, protect and extract insight from their unstructured and structured data. The company's platform encompasses document management, records management, digital asset management and archiving, enabling companies to govern information across its lifecycle.

Open Text's product suite includes content services, business process management, customer experience management, analytics and security products.

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