Occudo Quantitative Strategies LP acquired a new position in shares of Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,938 shares of the software maker's stock, valued at approximately $310,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. IFP Advisors Inc increased its stake in shares of Open Text by 103.8% in the fourth quarter. IFP Advisors Inc now owns 1,011 shares of the software maker's stock worth $29,000 after acquiring an additional 515 shares during the last quarter. Blue Trust Inc. increased its position in Open Text by 40.8% in the 4th quarter. Blue Trust Inc. now owns 1,373 shares of the software maker's stock worth $39,000 after purchasing an additional 398 shares during the last quarter. Aquatic Capital Management LLC acquired a new position in Open Text in the 4th quarter worth about $60,000. Generali Asset Management SPA SGR purchased a new stake in shares of Open Text during the 4th quarter worth about $62,000. Finally, Allworth Financial LP lifted its holdings in shares of Open Text by 20.7% during the 4th quarter. Allworth Financial LP now owns 2,564 shares of the software maker's stock valued at $73,000 after buying an additional 439 shares during the last quarter. Hedge funds and other institutional investors own 70.37% of the company's stock.
Open Text Stock Performance
Shares of Open Text stock traded up $0.02 during midday trading on Thursday, hitting $28.04. The company had a trading volume of 168,823 shares, compared to its average volume of 836,072. The stock has a market cap of $7.27 billion, a PE ratio of 11.40 and a beta of 1.15. Open Text Co. has a 1-year low of $22.79 and a 1-year high of $34.20. The business's 50 day simple moving average is $26.20 and its two-hundred day simple moving average is $27.67. 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 (NASDAQ:OTEX - Get Free Report) TSE: OTC last posted its quarterly earnings data on Wednesday, April 30th. The software maker reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.01. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.28 billion. Open Text had a net margin of 12.21% and a return on equity of 23.23%. The business's revenue was down 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.94 EPS. As a group, equities analysts predict that Open Text Co. will post 3.45 EPS for the current fiscal year.
Open Text Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.2625 per share. This represents a $1.05 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend is Friday, June 6th. Open Text's dividend payout ratio is 42.86%.
Analysts Set New Price Targets
A number of analysts have issued reports on the stock. National Bankshares reduced their target price on shares of Open Text from $38.00 to $34.00 and set a "sector perform" rating for the company in a research note on Friday, April 25th. CIBC decreased their price objective on shares of Open Text from $33.00 to $31.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. UBS Group lowered their target price on shares of Open Text from $32.00 to $28.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Wall Street Zen raised Open Text from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. Finally, Royal Bank of Canada lowered their price objective on 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 investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Open Text currently has a consensus rating of "Hold" and a consensus target price of $32.30.
View Our Latest Research Report on OTEX
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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