TD Waterhouse Canada Inc. Sells 138,390 Shares of Open Text Corporation $OTEX

Key Points

• TD Waterhouse Canada reduced its stake in Open Text by 14.4%, selling 138,390 shares and leaving it with 822,291 shares (about 0.33% of the company) valued at roughly $26.75 million.
• Open Text beat quarterly estimates with $1.13 EPS (consensus $1.04) and $1.32B revenue (consensus $1.29B) although revenue was down 0.6% year‑over‑year; the company pays a $0.275 quarterly dividend (≈4.7% yield, 64.7% payout ratio).
• Shares trade near $23.47 with a market cap of $5.69B and a PE of 13.8; Wall Street’s consensus is a Hold with a $35.75 target and about 70.4% of the stock owned by institutions.

TD Waterhouse Canada Inc. reduced its position in shares of Open Text Corporation (NASDAQ:OTEX - Free Report) TSE: OTC by 14.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 822,291 shares of the software maker's stock after selling 138,390 shares during the quarter. TD Waterhouse Canada Inc. owned approximately 0.33% of Open Text worth $26,751,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC bought a new stake in Open Text during the 3rd quarter valued at $33,000. WealthCollab LLC raised its holdings in Open Text by 39.5% during the 2nd quarter. WealthCollab LLC now owns 1,640 shares of the software maker's stock valued at $48,000 after buying an additional 464 shares during the last quarter. Osaic Holdings Inc. raised its holdings in Open Text by 108.8% during the 2nd quarter. Osaic Holdings Inc. now owns 1,798 shares of the software maker's stock valued at $52,000 after buying an additional 937 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Open Text by 39.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,005 shares of the software maker's stock valued at $59,000 after buying an additional 570 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in Open Text by 63.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,141 shares of the software maker's stock valued at $80,000 after buying an additional 828 shares during the last quarter. 70.37% of the stock is currently owned by institutional investors.

Open Text Price Performance

NASDAQ:OTEX opened at $23.47 on Monday. The firm's 50-day moving average price is $23.47 and its 200-day moving average price is $30.08. The company has a market capitalization of $5.69 billion, a PE ratio of 13.81 and a beta of 1.08. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.94 and a quick ratio of 0.94. Open Text Corporation has a 1-year low of $20.00 and a 1-year high of $39.90.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last announced its quarterly earnings data on Thursday, February 5th. The software maker reported $1.13 EPS for the quarter, beating the consensus estimate of $1.04 by $0.09. Open Text had a net margin of 8.42% and a return on equity of 23.60%. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the prior year, the firm posted $1.11 EPS. Open Text's revenue for the quarter was down .6% on a year-over-year basis. On average, equities analysts predict that Open Text Corporation will post 3.45 EPS for the current fiscal year.

Open Text Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, March 6th were paid a dividend of $0.275 per share. The ex-dividend date was Friday, March 6th. This represents a $1.10 annualized dividend and a yield of 4.7%. Open Text's dividend payout ratio is currently 64.71%.

Wall Street Analyst Weigh In

OTEX has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a "hold (c+)" rating on shares of Open Text in a report on Monday, December 29th. TD Securities upgraded shares of Open Text to a "hold" rating in a report on Monday, February 2nd. Raymond James Financial decreased their price objective on shares of Open Text from $48.00 to $42.00 and set an "outperform" rating for the company in a report on Friday, February 6th. UBS Group set a $26.00 price objective on shares of Open Text in a report on Friday, February 6th. Finally, Barclays decreased their price objective on shares of Open Text from $39.00 to $30.00 and set an "equal weight" rating for the company in a report on Friday, February 6th. Three analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $35.75.

Open Text Company Profile

Open Text Corporation is a Canadian enterprise information management (EIM) software company that develops solutions for organizations seeking to manage, protect and extract insight from their unstructured and structured data. The company's platform encompasses document management, records management, digital asset management and archiving, enabling companies to govern information across its lifecycle.

Open Text's product suite includes content services, business process management, customer experience management, analytics and security products.

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