Vontobel Holding Ltd. Boosts Position in Open Text Co. (NASDAQ:OTEX)

Vontobel Holding Ltd. grew its position in Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 182.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 37,176 shares of the software maker's stock after buying an additional 24,000 shares during the period. Vontobel Holding Ltd.'s holdings in Open Text were worth $1,563,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. IFP Advisors Inc grew its stake in shares of Open Text by 82.0% in the third quarter. IFP Advisors Inc now owns 870 shares of the software maker's stock worth $31,000 after acquiring an additional 392 shares during the period. Pacifica Partners Inc. bought a new stake in shares of Open Text in the fourth quarter worth approximately $32,000. Allworth Financial LP grew its stake in shares of Open Text by 125.7% in the third quarter. Allworth Financial LP now owns 957 shares of the software maker's stock worth $34,000 after acquiring an additional 533 shares during the period. Impact Partnership Wealth LLC bought a new stake in shares of Open Text in the third quarter worth approximately $37,000. Finally, Power Corp of Canada bought a new stake in shares of Open Text in the first quarter worth approximately $43,000. 70.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Open Text Price Performance

Shares of OTEX traded up $0.30 during mid-day trading on Friday, reaching $35.05. The stock had a trading volume of 556,184 shares, compared to its average volume of 480,568. The firm has a market cap of $9.55 billion, a price-to-earnings ratio of 74.58 and a beta of 1.09. Open Text Co. has a 12 month low of $32.04 and a 12 month high of $45.47. The business has a fifty day moving average of $38.21 and a 200 day moving average of $38.73. The company has a debt-to-equity ratio of 2.10, a quick ratio of 1.38 and a current ratio of 1.38.

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

Open Text Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Friday, March 1st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend was Thursday, February 29th. Open Text's dividend payout ratio (DPR) is presently 212.77%.

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.