Man Group plc Buys 105,315 Shares of Open Text Co. (NASDAQ:OTEX)

Man Group plc lifted its holdings in Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 64.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 269,736 shares of the software maker's stock after acquiring an additional 105,315 shares during the period. Man Group plc owned approximately 0.10% of Open Text worth $7,630,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. JARISLOWSKY FRASER Ltd increased its stake in Open Text by 11.8% during the 4th quarter. JARISLOWSKY FRASER Ltd now owns 18,547,256 shares of the software maker's stock valued at $522,879,000 after buying an additional 1,957,695 shares during the period. First Trust Advisors LP increased its holdings in Open Text by 9.5% in the 4th quarter. First Trust Advisors LP now owns 7,275,908 shares of the software maker's stock valued at $205,925,000 after buying an additional 632,437 shares during the period. Cooke & Bieler LP grew its holdings in shares of Open Text by 6.6% in the 4th quarter. Cooke & Bieler LP now owns 6,308,967 shares of the software maker's stock worth $178,670,000 after purchasing an additional 389,220 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Open Text by 75.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,994,675 shares of the software maker's stock worth $169,555,000 after acquiring an additional 2,586,549 shares during the last quarter. Finally, Brandes Investment Partners LP lifted its position in Open Text by 29.2% during the 4th quarter. Brandes Investment Partners LP now owns 4,504,139 shares of the software maker's stock valued at $127,557,000 after purchasing an additional 1,017,065 shares during the period. 70.37% of the stock is owned by institutional investors and hedge funds.

Open Text Stock Performance

NASDAQ:OTEX traded down $0.18 during mid-day trading on Friday, reaching $27.95. The stock had a trading volume of 761,038 shares, compared to its average volume of 842,395. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market capitalization of $7.24 billion, a price-to-earnings ratio of 11.36 and a beta of 1.15. Open Text Co. has a twelve month low of $22.79 and a twelve month high of $34.20. The business has a 50 day simple moving average of $26.28 and a 200 day simple moving average of $27.64.

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

Open Text Dividend Announcement

The company also recently declared 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 3.76%. Open Text's dividend payout ratio (DPR) is 42.86%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. UBS Group cut their price target on shares of Open Text from $32.00 to $28.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Royal Bank of Canada dropped their price target 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. CIBC reduced their price target on Open Text from $33.00 to $31.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Barclays dropped their price target on Open Text from $36.00 to $29.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Finally, 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 report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Open Text has an average rating of "Hold" and a consensus target price of $32.30.

Open Text Company 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.