Open Text Co. (NASDAQ:OTEX) Holdings Boosted by NBC Securities Inc.

NBC Securities Inc. lifted its stake in shares of Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 143,737.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,507 shares of the software maker's stock after purchasing an additional 11,499 shares during the quarter. NBC Securities Inc.'s holdings in Open Text were worth $290,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in OTEX. JARISLOWSKY FRASER Ltd increased its position in Open Text by 11.8% in the fourth quarter. JARISLOWSKY FRASER Ltd now owns 18,547,256 shares of the software maker's stock worth $522,879,000 after buying an additional 1,957,695 shares during the period. First Trust Advisors LP increased its holdings in shares of 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 worth $205,925,000 after acquiring an additional 632,437 shares during the period. Cooke & Bieler LP lifted its position in Open Text by 6.6% in the 4th quarter. Cooke & Bieler LP now owns 6,308,967 shares of the software maker's stock valued at $178,670,000 after purchasing an additional 389,220 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake 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 valued at $169,555,000 after purchasing an additional 2,586,549 shares during the period. Finally, Turtle Creek Asset Management Inc. grew its position in Open Text by 2.1% in the 4th quarter. Turtle Creek Asset Management Inc. now owns 5,366,703 shares of the software maker's stock worth $151,985,000 after purchasing an additional 109,550 shares during the last quarter. Institutional investors own 70.37% of the company's stock.

Open Text Price Performance

OTEX stock traded down $0.51 on Friday, hitting $27.89. 992,932 shares of the company's stock traded hands, compared to its average volume of 906,144. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.50. The stock has a market cap of $7.22 billion, a price-to-earnings ratio of 11.34 and a beta of 1.13. Open Text Co. has a 1-year low of $22.79 and a 1-year high of $34.20. The stock has a fifty day moving average of $26.67 and a 200-day moving average of $27.59.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last announced its quarterly earnings data on Wednesday, April 30th. The software maker reported $0.82 EPS for the quarter, beating analysts' consensus estimates of $0.81 by $0.01. The company had revenue of $1.25 billion during 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%. The company's quarterly revenue was down 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.94 EPS. On average, analysts forecast that Open Text Co. will post 3.45 EPS for the current fiscal year.

Open Text Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be given a $0.2625 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.05 dividend on an annualized basis and a dividend yield of 3.76%. Open Text's dividend payout ratio (DPR) is 42.86%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Scotiabank reduced their price objective on Open Text from $35.00 to $30.00 and set a "sector perform" rating for the company in a research report on Monday, April 28th. BMO Capital Markets cut their price objective on shares of Open Text from $30.00 to $28.00 and set a "market perform" rating on the stock in a research note on Friday, May 2nd. TD Securities decreased their target price on shares of Open Text from $38.00 to $35.00 and set a "buy" rating for the company in a research report on Sunday, February 9th. Wall Street Zen raised shares of Open Text from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. Finally, National Bankshares reduced their price target 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. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average 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.