Thornburg Investment Management Inc. Buys 18,004 Shares of Open Text Co. (NASDAQ:OTEX)

Thornburg Investment Management Inc. boosted its position in Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 11.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 171,866 shares of the software maker's stock after purchasing an additional 18,004 shares during the quarter. Thornburg Investment Management Inc. owned about 0.07% of Open Text worth $4,862,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of OTEX. IFP Advisors Inc lifted its position in Open Text by 103.8% in the 4th quarter. IFP Advisors Inc now owns 1,011 shares of the software maker's stock valued at $29,000 after purchasing an additional 515 shares during the last quarter. Blue Trust Inc. increased its stake in 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 buying an additional 398 shares during the period. Aquatic Capital Management LLC acquired a new position in Open Text during the 4th quarter valued at about $60,000. Generali Asset Management SPA SGR acquired a new position in Open Text during the 4th quarter valued at about $62,000. Finally, Allworth Financial LP increased its stake in Open Text by 20.7% during the 4th quarter. Allworth Financial LP now owns 2,564 shares of the software maker's stock valued at $73,000 after buying an additional 439 shares during the period. 70.37% of the stock is currently owned by institutional investors.

Open Text Stock Down 0.6%

NASDAQ OTEX traded down $0.18 during trading on Friday, reaching $27.95. The company's stock had a trading volume of 761,038 shares, compared to its average volume of 842,395. 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 capitalization of $7.24 billion, a PE ratio of 11.36 and a beta of 1.15. The business has a 50-day moving average price of $26.28 and a 200-day moving average price of $27.65. Open Text Co. has a 1-year low of $22.79 and a 1-year high of $34.20.

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

Open Text Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be paid a $0.2625 dividend. This represents a $1.05 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date of this dividend is Friday, June 6th. Open Text's payout ratio is 42.86%.

Wall Street Analyst Weigh In

Several research firms have commented on OTEX. Citigroup raised their target price on shares of Open Text from $29.00 to $43.00 and gave the company a "negative" rating in a research note on Friday, May 2nd. Barclays lowered their target price on shares of 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 shares of Open Text from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. BMO Capital Markets lowered 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. Finally, CIBC decreased their target price on shares of Open Text from $33.00 to $31.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Open Text presently has an average rating of "Hold" and an average 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.