Wellington Management Group LLP Buys 62,934 Shares of Open Text Co. (NASDAQ:OTEX)

Wellington Management Group LLP boosted its holdings in shares of Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 31.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 263,239 shares of the software maker's stock after purchasing an additional 62,934 shares during the period. Wellington Management Group LLP owned about 0.10% of Open Text worth $7,446,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its position in shares of Open Text by 40.8% during the 4th quarter. Blue Trust Inc. now owns 1,373 shares of the software maker's stock worth $39,000 after buying an additional 398 shares during the period. Choreo LLC acquired a new position in Open Text during the fourth quarter worth $564,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Open Text during the fourth quarter valued at $2,810,000. Vest Financial LLC acquired a new stake in shares of Open Text in the 4th quarter valued at $267,000. Finally, Wilmington Savings Fund Society FSB boosted its stake in shares of Open Text by 15.2% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 17,253 shares of the software maker's stock valued at $489,000 after purchasing an additional 2,270 shares in the last quarter. 70.37% of the stock is owned by institutional investors and hedge funds.

Open Text Trading Down 0.2%

NASDAQ:OTEX traded down $0.06 during trading hours on Thursday, hitting $28.40. 11,090,790 shares of the stock were exchanged, compared to its average volume of 904,559. The company has a market capitalization of $7.36 billion, a P/E ratio of 11.54 and a beta of 1.15. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.50. The company's 50 day moving average is $26.49 and its two-hundred day moving average is $27.58. Open Text Co. has a twelve month low of $22.79 and a twelve month high of $34.20.

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

Open Text Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 3.70%. The ex-dividend date is Friday, June 6th. Open Text's dividend payout ratio (DPR) is presently 42.86%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on OTEX shares. TD Securities dropped 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 report on Tuesday, May 13th. CIBC reduced their target price on Open Text from $33.00 to $31.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. BMO Capital Markets decreased their price target on Open Text from $30.00 to $28.00 and set a "market perform" rating on the stock in a research report on Friday, May 2nd. Finally, National Bankshares cut their price objective on Open Text from $38.00 to $34.00 and set a "sector perform" rating for the company in a research report on Friday, April 25th. One 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 data from MarketBeat.com, Open Text has a consensus 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.