Janus Henderson Group PLC Sells 9,200 Shares of Open Text Co. (NASDAQ:OTEX)

Janus Henderson Group PLC reduced its position in shares of Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 30.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 modified their holdings of the company. Blue Trust Inc. boosted its position in Open Text by 40.8% during the fourth quarter. Blue Trust Inc. now owns 1,373 shares of the software maker's stock worth $39,000 after acquiring an additional 398 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Open Text by 20.7% during the fourth quarter. Allworth Financial LP now owns 2,564 shares of the software maker's stock worth $73,000 after purchasing an additional 439 shares during the last quarter. IFP Advisors Inc grew its position in shares of Open Text by 103.8% in the fourth quarter. IFP Advisors Inc now owns 1,011 shares of the software maker's stock valued at $29,000 after purchasing an additional 515 shares during the period. DGS Capital Management LLC grew its position in shares of Open Text by 2.0% in the fourth quarter. DGS Capital Management LLC now owns 26,477 shares of the software maker's stock valued at $750,000 after purchasing an additional 530 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Open Text by 1.5% in the fourth 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 during the last quarter. 70.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OTEX has been the subject of a number of research reports. Royal Bank of Canada decreased their target price on Open Text from $31.00 to $30.00 and set a "sector perform" rating for the company in a report on Tuesday, April 22nd. National Bankshares decreased their price objective on shares of 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. CIBC dropped their price objective on shares of Open Text from $33.00 to $31.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. BMO Capital Markets reduced their target price on shares of Open Text from $30.00 to $28.00 and set a "market perform" rating on the stock in a report on Friday, May 2nd. Finally, Barclays decreased their price target on shares of Open Text from $36.00 to $29.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $32.30.

Open Text Stock Down 0.8%

OTEX traded down $0.23 during trading on Thursday, reaching $28.02. The company had a trading volume of 736,549 shares, compared to its average volume of 852,457. The business's fifty day moving average price is $26.39 and its 200 day moving average price is $27.64. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.87 and a quick ratio of 0.87. Open Text Co. has a 12 month low of $22.79 and a 12 month high of $34.20. The company has a market cap of $7.26 billion, a P/E ratio of 11.39 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.81 by $0.01. The business 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 23.23% and a net margin of 12.21%. Open Text's quarterly revenue was down 13.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.94 earnings per share. Equities analysts anticipate that Open Text Co. will post 3.45 EPS for the current 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 $0.2625 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.05 annualized dividend and a yield of 3.75%. Open Text's dividend payout ratio is presently 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.