JARISLOWSKY FRASER Ltd Has $522.88 Million Stake in Open Text Co. (NASDAQ:OTEX)

JARISLOWSKY FRASER Ltd increased its holdings in Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 11.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,547,256 shares of the software maker's stock after acquiring an additional 1,957,695 shares during the quarter. Open Text comprises approximately 3.1% of JARISLOWSKY FRASER Ltd's portfolio, making the stock its 9th biggest position. JARISLOWSKY FRASER Ltd owned 7.03% of Open Text worth $522,879,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in OTEX. IFP Advisors Inc boosted its stake in shares of Open Text by 103.8% during 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 in the last quarter. Blue Trust Inc. lifted its holdings in Open Text by 40.8% in the fourth 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. Aquatic Capital Management LLC bought a new stake in Open Text during the 4th quarter valued at approximately $60,000. Generali Asset Management SPA SGR purchased a new position in shares of Open Text during the 4th quarter worth approximately $62,000. Finally, Allworth Financial LP raised its position 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 acquiring an additional 439 shares in the last quarter. Institutional investors own 70.37% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on OTEX shares. BMO Capital Markets dropped 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. StockNews.com cut shares of Open Text from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Barclays decreased their price target on shares of Open Text from $36.00 to $29.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Scotiabank dropped their price objective on shares of Open Text from $35.00 to $30.00 and set a "sector perform" rating on the stock in a research note on Monday, April 28th. Finally, Royal Bank of Canada cut their price objective on shares of Open Text from $31.00 to $30.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Open Text has an average rating of "Hold" and an average price target of $32.30.

Open Text Trading Down 0.9 %

NASDAQ:OTEX opened at $27.14 on Friday. The stock has a market cap of $7.05 billion, a price-to-earnings ratio of 11.03 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 price is $25.83 and its 200-day moving average price is $27.88. Open Text Co. has a 52 week low of $22.79 and a 52 week 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 EPS for the quarter, topping analysts' consensus estimates 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 analyst estimates of $1.28 billion. During the same quarter last year, the company earned $0.94 EPS. The company's quarterly revenue was down 13.3% compared to the same quarter last year. On average, equities research analysts forecast that Open Text Co. will post 3.45 earnings per share for the current fiscal year.

Open Text Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.2625 per share. This represents a $1.05 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date is Friday, June 6th. Open Text's payout ratio is presently 42.86%.

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.

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