Open Text Co. (NASDAQ:OTEX) Stock Holdings Decreased by Janus Henderson Group PLC

Janus Henderson Group PLC lessened its holdings in shares of Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 30.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,654 shares of the software maker's stock after selling 9,200 shares during the period. Janus Henderson Group PLC's holdings in Open Text were worth $585,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. raised its stake in Open Text by 5.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 19,921 shares of the software maker's stock worth $563,000 after acquiring an additional 1,049 shares during the last quarter. Avior Wealth Management LLC boosted its holdings in Open Text by 11.5% in the 4th quarter. Avior Wealth Management LLC now owns 44,662 shares of the software maker's stock worth $1,265,000 after buying an additional 4,600 shares during the last quarter. DGS Capital Management LLC boosted its holdings in Open Text by 2.0% in the 4th quarter. DGS Capital Management LLC now owns 26,477 shares of the software maker's stock worth $750,000 after buying an additional 530 shares during the last quarter. Blue Trust Inc. boosted its holdings in Open Text by 40.8% in the 4th quarter. Blue Trust Inc. now owns 1,373 shares of the software maker's stock worth $39,000 after buying an additional 398 shares during the last quarter. Finally, Choreo LLC purchased a new position in Open Text in the 4th quarter worth approximately $564,000. Hedge funds and other institutional investors own 70.37% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. TD Securities reduced their price target on Open Text from $38.00 to $35.00 and set a "buy" rating on the stock in a report on Sunday, February 9th. Wall Street Zen raised shares of Open Text from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. Citigroup boosted their target price on Open Text from $29.00 to $43.00 and gave the company a "negative" rating in a research report on Friday, May 2nd. 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. Finally, UBS Group dropped their target price on Open Text from $32.00 to $28.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Open Text presently has an average rating of "Hold" and an average target price of $32.30.

Open Text Price Performance

Shares of OTEX traded down $0.06 during mid-day trading on Wednesday, reaching $28.39. 825,781 shares of the company's stock were exchanged, compared to its average volume of 847,963. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.50. The company has a 50-day simple moving average of $26.35 and a two-hundred day simple moving average of $27.63. Open Text Co. has a 52-week low of $22.79 and a 52-week high of $34.20. The company has a market cap of $7.36 billion, a price-to-earnings ratio of 11.55 and a beta of 1.15.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last released its earnings results on Wednesday, April 30th. The software maker reported $0.82 EPS for the quarter, topping the consensus estimate of $0.81 by $0.01. The firm had revenue of $1.25 billion during the quarter, compared to analysts' expectations of $1.28 billion. Open Text had a net margin of 12.21% and a return on equity of 23.23%. Open Text's revenue for the quarter was down 13.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.94 EPS. On average, sell-side analysts predict that Open Text Co. will post 3.45 EPS 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. Stockholders of record on Friday, June 6th will be paid a dividend of $0.2625 per share. The ex-dividend date is Friday, June 6th. This represents a $1.05 annualized dividend and a dividend yield of 3.70%. Open Text's dividend payout ratio is presently 42.86%.

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.