Open Text Corporation (NASDAQ:OTEX) Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. lessened its holdings in Open Text Corporation (NASDAQ:OTEX - Free Report) TSE: OTC by 9.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 96,440 shares of the software maker's stock after selling 10,600 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Open Text were worth $2,434,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of OTEX. Versant Capital Management Inc acquired a new stake in shares of Open Text during the 1st quarter valued at approximately $26,000. IFP Advisors Inc lifted its position in shares of Open Text by 103.8% during the 4th quarter. IFP Advisors Inc now owns 1,011 shares of the software maker's stock valued at $29,000 after acquiring an additional 515 shares during the period. Blue Trust Inc. lifted its position in shares of Open Text by 40.8% during the 4th quarter. Blue Trust Inc. now owns 1,373 shares of the software maker's stock valued at $39,000 after acquiring an additional 398 shares during the period. Parallel Advisors LLC lifted its position in shares of Open Text by 219.3% during the 1st quarter. Parallel Advisors LLC now owns 1,938 shares of the software maker's stock valued at $49,000 after acquiring an additional 1,331 shares during the period. Finally, Aquatic Capital Management LLC acquired a new stake in shares of Open Text during the 4th quarter valued at approximately $60,000. 70.37% of the stock is currently owned by institutional investors and hedge funds.

Open Text Stock Down 1.7%

Open Text stock traded down $0.49 during trading on Friday, reaching $27.83. 1,664,098 shares of the company's stock were exchanged, compared to its average volume of 924,119. The company's 50-day moving average is $27.46 and its two-hundred day moving average is $27.45. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.86 and a current ratio of 0.86. Open Text Corporation has a 52-week low of $22.79 and a 52-week high of $34.20. The firm has a market cap of $7.14 billion, a price-to-earnings ratio of 11.36 and a beta of 1.13.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last announced its quarterly earnings results on Wednesday, April 30th. The software maker reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.01. Open Text had a net margin of 12.55% and a return on equity of 22.49%. The firm had revenue of $1.25 billion during the quarter, compared to analysts' expectations of $1.28 billion. During the same period in the prior year, the company earned $0.94 EPS. The firm's revenue was down 13.3% on a year-over-year basis. On average, analysts predict that Open Text Corporation will post 3.45 earnings per share for the current year.

Open Text Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were given a dividend of $0.2625 per share. The ex-dividend date was Friday, June 6th. This represents a $1.05 dividend on an annualized basis and a yield of 3.77%. Open Text's dividend payout ratio (DPR) is 42.86%.

Wall Street Analysts Forecast Growth

OTEX has been the subject of a number of research reports. UBS Group reduced their price target on shares of Open Text from $32.00 to $28.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Barclays reduced 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. National Bankshares cut their price objective on Open Text from $38.00 to $34.00 and set a "sector perform" rating for the company in a research report on Friday, April 25th. Citigroup boosted their price target on Open Text from $29.00 to $43.00 and gave the company a "negative" rating in a report on Friday, May 2nd. Finally, BMO Capital Markets cut their price target on Open Text from $30.00 to $28.00 and set a "market perform" rating for the company in a report on Friday, May 2nd. 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 stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $32.30.

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.