Triasima Portfolio Management inc. Sells 138,030 Shares of Open Text Co. (NASDAQ:OTEX)

Triasima Portfolio Management inc. trimmed its stake in shares of Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 23.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 444,550 shares of the software maker's stock after selling 138,030 shares during the quarter. Open Text accounts for about 1.5% of Triasima Portfolio Management inc.'s holdings, making the stock its 22nd largest position. Triasima Portfolio Management inc. owned about 0.16% of Open Text worth $18,718,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the business. Mosaic Family Wealth Partners LLC bought a new position in Open Text in the 4th quarter worth about $213,000. Cerity Partners LLC purchased a new position in shares of Open Text in the 4th quarter worth about $1,202,000. Value Partners Investments Inc. boosted its holdings in shares of Open Text by 16.3% in the 4th quarter. Value Partners Investments Inc. now owns 2,046,243 shares of the software maker's stock worth $85,983,000 after purchasing an additional 286,766 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Open Text by 14.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 136,262 shares of the software maker's stock worth $5,726,000 after purchasing an additional 17,645 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in shares of Open Text in the 4th quarter worth about $742,000. 70.37% of the stock is currently owned by institutional investors.

Open Text Trading Down 1.1 %

NASDAQ OTEX traded down $0.39 on Friday, hitting $35.52. The company's stock had a trading volume of 678,093 shares, compared to its average volume of 472,371. Open Text Co. has a 52-week low of $32.04 and a 52-week high of $45.47. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 2.10. The company's 50-day simple moving average is $38.88 and its 200 day simple moving average is $38.70. The firm has a market cap of $9.68 billion, a P/E ratio of 75.58 and a beta of 1.09.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last released its quarterly earnings data on Thursday, February 1st. The software maker reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.01. Open Text had a return on equity of 22.99% and a net margin of 2.24%. The business had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.48 billion. Research analysts predict that Open Text Co. will post 4.14 EPS for the current fiscal year.

Open Text Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Friday, March 1st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend was Thursday, February 29th. Open Text's dividend payout ratio (DPR) is currently 212.77%.

Analyst Upgrades and Downgrades

OTEX has been the subject of a number of research reports. StockNews.com upgraded Open Text from a "hold" rating to a "buy" rating in a report on Tuesday, February 6th. Jefferies Financial Group initiated coverage on Open Text in a report on Tuesday, February 27th. They issued a "buy" rating and a $45.00 price objective for the company. CIBC upped their price objective on Open Text from $42.00 to $44.00 and gave the stock a "neutral" rating in a report on Thursday, January 11th. TD Securities increased their target price on Open Text from $53.00 to $54.00 and gave the company a "buy" rating in a report on Friday, February 2nd. Finally, Royal Bank of Canada restated an "outperform" rating and set a $53.00 target price on shares of Open Text in a report on Friday, February 2nd. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.25.

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.