Open Text Corporation (NASDAQ:OTEX) Shares Sold by Signaturefd LLC

Signaturefd LLC trimmed its position in Open Text Corporation (NASDAQ:OTEX - Free Report) TSE: OTC by 69.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,974 shares of the software maker's stock after selling 9,099 shares during the period. Signaturefd LLC's holdings in Open Text were worth $100,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of OTEX. Versant Capital Management Inc acquired a new stake in shares of Open Text in the first quarter worth $26,000. Parallel Advisors LLC grew its stake in Open Text by 219.3% in 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. Stifel Financial Corp raised its position in Open Text by 2.2% during the fourth quarter. Stifel Financial Corp now owns 68,511 shares of the software maker's stock worth $1,940,000 after acquiring an additional 1,453 shares during the period. LPL Financial LLC raised its position in Open Text by 8.7% during the fourth quarter. LPL Financial LLC now owns 18,509 shares of the software maker's stock worth $524,000 after acquiring an additional 1,479 shares during the period. Finally, Alps Advisors Inc. raised its position in Open Text by 5.8% during the first quarter. Alps Advisors Inc. now owns 33,109 shares of the software maker's stock worth $836,000 after acquiring an additional 1,807 shares during the period. 70.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented 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 note on Monday, April 28th. UBS Group reduced their price objective on Open Text from $32.00 to $28.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Barclays lowered their price objective 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. Wall Street Zen raised Open Text from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. Finally, CIBC lowered their price objective on Open Text from $33.00 to $31.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. One investment 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. Based on data from MarketBeat.com, Open Text has a consensus rating of "Hold" and a consensus target price of $32.30.

Open Text Trading Up 1.1%

NASDAQ:OTEX traded up $0.33 during trading hours on Friday, reaching $30.54. 258,121 shares of the stock were exchanged, compared to its average volume of 1,238,620. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.54. The business has a 50-day moving average of $28.65 and a two-hundred day moving average of $27.49. Open Text Corporation has a twelve month low of $22.79 and a twelve month high of $34.20. The company has a market capitalization of $7.83 billion, a price-to-earnings ratio of 12.46 and a beta of 1.13.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last released its quarterly earnings results 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 company had revenue of $1.25 billion for the quarter, compared to analysts' expectations of $1.28 billion. Open Text had a return on equity of 22.49% and a net margin of 12.55%. The firm's revenue was down 13.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.94 earnings per share. On average, equities analysts predict that Open Text Corporation will post 3.45 EPS for the current year.

Open Text Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a $0.2625 dividend. The ex-dividend date was Friday, June 6th. This represents a $1.05 annualized dividend and a dividend yield of 3.44%. Open Text's dividend payout ratio (DPR) is 42.86%.

Open Text 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.