13,145 Shares in Open Text Co. (NASDAQ:OTEX) Acquired by Squarepoint Ops LLC

Squarepoint Ops LLC acquired a new stake in Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 13,145 shares of the software maker's stock, valued at approximately $372,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc grew its holdings in shares of Open Text by 103.8% in the fourth 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 in the last quarter. Blue Trust Inc. grew its stake in Open Text by 40.8% in the 4th quarter. Blue Trust Inc. now owns 1,373 shares of the software maker's stock valued at $39,000 after purchasing an additional 398 shares during the period. Aquatic Capital Management LLC purchased a new stake in shares of Open Text during the 4th quarter valued at $60,000. Generali Asset Management SPA SGR bought a new stake in shares of Open Text during the 4th quarter worth $62,000. Finally, Allworth Financial LP boosted its holdings in shares of Open Text by 20.7% in the 4th quarter. Allworth Financial LP now owns 2,564 shares of the software maker's stock worth $73,000 after buying an additional 439 shares during the last quarter. Hedge funds and other institutional investors own 70.37% of the company's stock.

Open Text Stock Performance

Shares of Open Text stock traded up $0.27 during trading hours on Monday, reaching $28.16. The company had a trading volume of 905,522 shares, compared to its average volume of 906,142. The firm has a market cap of $7.29 billion, a PE ratio of 11.45 and a beta of 1.13. Open Text Co. has a one year low of $22.79 and a one year high of $34.20. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.87 and a quick ratio of 0.87. The business has a fifty day simple moving average of $26.72 and a 200 day simple moving average of $27.56.

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

Open Text Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be paid a dividend of $0.2625 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.05 annualized dividend and a yield of 3.73%. Open Text's dividend payout ratio is currently 42.86%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on OTEX. UBS Group decreased their price objective on shares of Open Text from $32.00 to $28.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Barclays reduced their target price 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. Wall Street Zen raised shares of Open Text from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th. CIBC dropped 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. Finally, TD Securities decreased their target price on Open Text from $38.00 to $35.00 and set a "buy" rating for the company in a research report on Sunday, February 9th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target 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.