Intact Investment Management Inc. lowered its holdings in Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 4.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,252,860 shares of the software maker's stock after selling 62,020 shares during the period. Open Text comprises 2.1% of Intact Investment Management Inc.'s holdings, making the stock its 10th biggest holding. Intact Investment Management Inc. owned about 0.46% of Open Text worth $52,658,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. IFP Advisors Inc increased its position 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 in the last quarter. Hunter Perkins Capital Management LLC purchased a new position in shares of Open Text in the third quarter worth approximately $527,000. Forsta AP Fonden increased its position in shares of Open Text by 10.4% in the third quarter. Forsta AP Fonden now owns 74,400 shares of the software maker's stock worth $2,623,000 after acquiring an additional 7,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Open Text by 13.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 323,885 shares of the software maker's stock worth $11,420,000 after acquiring an additional 38,366 shares in the last quarter. Finally, Inspire Investing LLC increased its position in shares of Open Text by 23.4% in the third quarter. Inspire Investing LLC now owns 17,568 shares of the software maker's stock worth $617,000 after acquiring an additional 3,328 shares in the last quarter. Institutional investors and hedge funds own 70.37% of the company's stock.
Open Text Stock Down 0.2 %
NASDAQ OTEX traded down $0.06 during trading on Friday, reaching $35.68. The company's stock had a trading volume of 434,966 shares, compared to its average volume of 643,478. 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 stock has a market capitalization of $9.72 billion, a PE ratio of 75.92 and a beta of 1.09. The business has a 50-day moving average price of $37.77 and a 200-day moving average price of $38.75. Open Text Co. has a 1-year low of $32.04 and a 1-year high of $45.47.
Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last posted its earnings results on Thursday, February 1st. The software maker reported $1.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.01. The firm had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.48 billion. Open Text had a net margin of 2.24% and a return on equity of 22.99%. On average, research analysts forecast that Open Text Co. will post 4.14 earnings per share for the current fiscal year.
Open Text Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Friday, March 1st were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date was Thursday, February 29th. Open Text's payout ratio is 212.77%.
Wall Street Analyst Weigh In
OTEX has been the topic of several analyst reports. Citigroup dropped their target price on shares of Open Text from $44.00 to $42.00 and set a "neutral" rating on the stock in a research report on Friday, March 22nd. Royal Bank of Canada reaffirmed an "outperform" rating and set a $53.00 price objective on shares of Open Text in a research report on Friday, February 2nd. Jefferies Financial Group assumed coverage on shares of Open Text in a research report on Tuesday, February 27th. They set a "buy" rating and a $45.00 price objective on the stock. StockNews.com raised shares of Open Text from a "hold" rating to a "buy" rating in a research report on Tuesday, February 6th. Finally, BMO Capital Markets boosted their price objective on shares of Open Text from $48.00 to $50.00 and gave the company an "outperform" rating in a research 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $46.25.
Read Our Latest Stock Report on Open Text
Open Text Company Profile
(
Free Report)
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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