First Trust Advisors LP Has $205.93 Million Stock Holdings in Open Text Co. (NASDAQ:OTEX)

First Trust Advisors LP grew its stake in shares of Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 9.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,275,908 shares of the software maker's stock after purchasing an additional 632,437 shares during the quarter. First Trust Advisors LP owned approximately 2.76% of Open Text worth $205,925,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OTEX. Norges Bank bought a new position in Open Text in the 4th quarter valued at about $93,216,000. Arrowstreet Capital Limited Partnership boosted its stake in Open Text by 75.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,994,675 shares of the software maker's stock valued at $169,555,000 after purchasing an additional 2,586,549 shares in the last quarter. Brandes Investment Partners LP increased its position in shares of Open Text by 29.2% during the 4th quarter. Brandes Investment Partners LP now owns 4,504,139 shares of the software maker's stock valued at $127,557,000 after purchasing an additional 1,017,065 shares during the period. Grantham Mayo Van Otterloo & Co. LLC raised its stake in shares of Open Text by 84.3% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,297,772 shares of the software maker's stock worth $36,738,000 after buying an additional 593,447 shares in the last quarter. Finally, FIL Ltd boosted its stake in Open Text by 27.9% during the fourth quarter. FIL Ltd now owns 2,381,553 shares of the software maker's stock valued at $67,398,000 after buying an additional 519,004 shares in the last quarter. 70.37% of the stock is owned by institutional investors and hedge funds.

Open Text Stock Up 1.3 %

OTEX traded up $0.34 during trading on Friday, reaching $27.21. 224,998 shares of the stock traded hands, compared to its average volume of 809,975. The stock's 50-day simple moving average is $25.78 and its two-hundred day simple moving average is $28.44. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.87 and a quick ratio of 0.87. Open Text Co. has a fifty-two week low of $22.79 and a fifty-two week high of $36.25. The stock has a market cap of $7.07 billion, a price-to-earnings ratio of 11.06 and a beta of 1.13.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last released its quarterly earnings data on Thursday, February 6th. The software maker reported $1.02 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.10. Open Text had a return on equity of 23.23% and a net margin of 12.21%. As a group, equities research analysts expect that Open Text Co. will post 3.45 EPS for the current year.

Open Text Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were issued a dividend of $0.2625 per share. This is a positive change from Open Text's previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.05 dividend on an annualized basis and a dividend yield of 3.86%. Open Text's dividend payout ratio is currently 42.68%.

Analyst Ratings Changes

OTEX has been the subject of a number of research analyst reports. Citigroup upped their price target on shares of Open Text from $30.00 to $32.00 and gave the company a "neutral" rating in a report on Friday, February 7th. TD Securities decreased their price target on shares of Open Text from $38.00 to $35.00 and set a "buy" rating on the stock in a research report on Sunday, February 9th. StockNews.com downgraded Open Text from a "strong-buy" rating to a "buy" rating in a research report on Monday, January 27th. Royal Bank of Canada decreased their target price on Open Text from $31.00 to $30.00 and set a "sector perform" rating on the stock in a report on Tuesday. Finally, Barclays decreased their price target on Open Text from $36.00 to $29.00 and set an "equal weight" rating for the company in a research report on Monday. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Open Text presently has an average rating of "Hold" and an average price target of $34.45.

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.