Mirae Asset Global Investments Co. Ltd. Acquires New Shares in Open Text Corporation $OTEX

Key Points

• Mirae Asset Global Investments bought 121,526 Open Text shares in the third quarter, valued at approximately $2.73 million, representing about 0.05% of the company.
• Other institutional investors also adjusted or initiated positions, and institutions and hedge funds collectively owned 70.37% of Open Text’s shares.
• Open Text beat quarterly earnings and revenue estimates, though revenue fell 4% year over year. The company declared a $0.28 quarterly dividend, and analysts’ consensus rating was “Hold.”

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Open Text Corporation (NASDAQ:OTEX - Free Report) TSE: OTC in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 121,526 shares of the software maker's stock, valued at approximately $2,725,000. Mirae Asset Global Investments Co. Ltd. owned about 0.05% of Open Text as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of OTEX. Kimelman & Baird LLC bought a new stake in Open Text during the 2nd quarter worth approximately $27,000. Global Retirement Partners LLC bought a new position in Open Text in the 2nd quarter valued at $34,000. Allworth Financial LP bought a new position in Open Text in the 2nd quarter valued at $53,000. Mondrian Investment Partners LTD bought a new position in Open Text in the 3rd quarter valued at $67,000. Finally, PNC Financial Services Group Inc. boosted its stake in Open Text by 23.0% in the first quarter. PNC Financial Services Group Inc. now owns 4,117 shares of the software maker's stock worth $92,000 after purchasing an additional 769 shares in the last quarter. 70.37% of the stock is owned by institutional investors and hedge funds.

Open Text News Summary

Here are the key news stories impacting Open Text this week:

• Positive Sentiment: Open Text earned $1.05 per share, ahead of the $0.94 consensus, and revenue of $1.24 billion topped estimates of $1.22 billion. Core revenue grew 2% year over year, core cloud revenue rose 11%, and adjusted EBITDA margin was 35.8%. OpenText first-quarter fiscal 2027 results
• Positive Sentiment: Barclays raised its price target from $27 to $29, implying 16.6% upside from the cited share price. Its rating remains “equal weight,” however, signaling a broadly market-level view.
• Positive Sentiment: The company declared a quarterly dividend of $0.28 per share, equivalent to $1.12 annually and a stated yield of about 4.3%.
• Neutral Sentiment: Second-quarter revenue guidance of $1.3 billion is in line with analyst consensus.
• Negative Sentiment: Fiscal 2027 revenue guidance of $5.1 billion–$5.2 billion has a midpoint below the $5.2 billion consensus, a modest forecast shortfall that could temper the earnings beat.
• Negative Sentiment: Despite beating estimates, quarterly revenue declined 4% year over year, and EPS was unchanged from the same quarter last year. That weak growth comparison may limit the positive impact of the results.

Open Text Stock Performance

OTEX stock opened at $24.85 on Friday. The company has a 50 day moving average price of $24.44 and a 200 day moving average price of $23.84. Open Text Corporation has a fifty-two week low of $19.77 and a fifty-two week high of $35.65. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $6.00 billion, a PE ratio of 9.41 and a beta of 0.98.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last announced its quarterly earnings data on Thursday, November 5th. The software maker reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $0.94 by $0.11. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. Open Text had a return on equity of 25.39% and a net margin of 12.54%. The business's quarterly revenue was down 4.0% compared to the same quarter last year. During the same period last year, the company earned $1.05 EPS. Analysts forecast that Open Text Corporation will post 3.72 EPS for the current year.

Open Text Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, December 4th. Open Text's dividend payout ratio is 43.41%.

Analysts Set New Price Targets

OTEX has been the topic of several research analyst reports. Barclays increased their target price on Open Text from $27.00 to $29.00 and gave the stock an "equal weight" rating in a report on Friday. Scotia cut their price target on Open Text from $40.00 to $33.00 and set a "sector outperform" rating for the company in a report on Friday, August 7th. Citigroup upped their price target on shares of Open Text from $25.00 to $28.00 and gave the stock a "neutral" rating in a research report on Friday, August 7th. Zacks Research raised shares of Open Text from a "strong sell" rating to a "hold" rating in a report on Monday, October 5th. Finally, Wall Street Zen cut shares of Open Text from a "buy" rating to a "hold" rating in a research report on Saturday. Three equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, Open Text currently has an average rating of "Hold" and a consensus target price of $30.72.

Open Text Profile

OpenText Corporation is a Canadian enterprise software company that develops solutions for managing, securing and exchanging business information. Its offerings help organizations organize content, automate business processes, connect with customers and partners, and manage information across cloud, on-premises and hybrid environments.

The company's portfolio includes enterprise content management, business network and integration services, customer experience tools, cybersecurity and information governance solutions, and software for managing enterprise applications and information technology operations.

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