Mackenzie Financial Corp Has $152.18 Million Stake in Open Text Co. (NASDAQ:OTEX)

Mackenzie Financial Corp lessened its position in shares of Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 9.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,383,106 shares of the software maker's stock after selling 543,432 shares during the quarter. Mackenzie Financial Corp owned approximately 2.04% of Open Text worth $152,178,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Public Employees Retirement System of Ohio grew its holdings in shares of Open Text by 208.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 140,726 shares of the software maker's stock worth $3,985,000 after purchasing an additional 95,058 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Open Text during the 4th quarter worth approximately $372,000. Twinbeech Capital LP acquired a new stake in shares of Open Text during the 4th quarter worth approximately $360,000. Two Sigma Investments LP boosted its stake in Open Text by 483.2% in the 4th quarter. Two Sigma Investments LP now owns 72,906 shares of the software maker's stock valued at $2,065,000 after buying an additional 60,406 shares in the last quarter. Finally, Tidal Investments LLC grew its position in Open Text by 38.8% in the fourth quarter. Tidal Investments LLC now owns 18,238 shares of the software maker's stock valued at $516,000 after acquiring an additional 5,100 shares during the period. Institutional investors and hedge funds own 70.37% of the company's stock.

Analysts Set New Price Targets

OTEX has been the topic of a number of analyst reports. Royal Bank of Canada lowered their price target 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. Scotiabank lowered their price target on Open Text from $35.00 to $30.00 and set a "sector perform" rating on the stock in a research report on Monday, April 28th. Citigroup upped their price target on Open Text from $29.00 to $43.00 and gave the company a "negative" rating in a research report on Friday, May 2nd. CIBC lowered their price target 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, TD Securities lowered their price target on Open Text from $38.00 to $35.00 and set a "buy" rating on the stock in a research report on Sunday, February 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Open Text presently has an average rating of "Hold" and an average target price of $32.30.

Open Text Price Performance

Shares of NASDAQ:OTEX traded up $0.00 during midday trading on Friday, reaching $28.02. The company's stock had a trading volume of 400,954 shares, compared to its average volume of 850,723. Open Text Co. has a fifty-two week low of $22.79 and a fifty-two week high of $34.20. The company has a market capitalization of $7.26 billion, a P/E ratio of 11.38 and a beta of 1.15. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.87 and a quick ratio of 0.87. The business's fifty day simple moving average is $26.39 and its 200-day simple moving average is $27.64.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last issued its quarterly earnings results on Wednesday, April 30th. The software maker reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.01. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.28 billion. Open Text had a return on equity of 23.23% and a net margin of 12.21%. The firm's revenue for the quarter was down 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.94 earnings per share. As a group, equities research analysts expect that Open Text Co. will post 3.45 EPS for the current fiscal year.

Open Text Dividend Announcement

The company 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 dividend of $0.2625 per share. 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 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.