Ossiam Has $2.70 Million Holdings in Open Text Co. (NASDAQ:OTEX)

Ossiam raised its holdings in Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 18.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 95,539 shares of the software maker's stock after acquiring an additional 14,918 shares during the period. Ossiam's holdings in Open Text were worth $2,702,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. First Trust Advisors LP increased its stake in Open Text by 9.5% during the 4th quarter. First Trust Advisors LP now owns 7,275,908 shares of the software maker's stock worth $205,925,000 after purchasing an additional 632,437 shares in the last quarter. Cooke & Bieler LP lifted its position in Open Text by 6.6% in the 4th quarter. Cooke & Bieler LP now owns 6,308,967 shares of the software maker's stock valued at $178,670,000 after acquiring an additional 389,220 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Open Text by 75.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,994,675 shares of the software maker's stock worth $169,555,000 after purchasing an additional 2,586,549 shares in the last quarter. Brandes Investment Partners LP raised its stake in shares of Open Text by 29.2% in the 4th quarter. Brandes Investment Partners LP now owns 4,504,139 shares of the software maker's stock valued at $127,557,000 after purchasing an additional 1,017,065 shares during the period. Finally, Norges Bank bought a new stake in shares of Open Text in the fourth quarter valued at about $93,216,000. 70.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

OTEX has been the topic of a number of recent research reports. StockNews.com lowered Open Text from a "strong-buy" rating to a "buy" rating in a research report on Monday, January 27th. Citigroup increased their target price on shares of Open Text from $30.00 to $32.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Barclays lowered their price target on shares of Open Text from $36.00 to $29.00 and set an "equal weight" rating on the stock in a research note on Monday. TD Securities reduced their price objective on shares of Open Text from $38.00 to $35.00 and set a "buy" rating for the company in a research note on Sunday, February 9th. Finally, Royal Bank of Canada lowered their target price on Open Text from $31.00 to $30.00 and set a "sector perform" rating on the stock in a research report on Tuesday. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $34.45.

Open Text Stock Performance

OTEX traded up $0.19 during trading hours on Friday, reaching $27.06. The company's stock had a trading volume of 245,535 shares, compared to its average volume of 1,108,920. The company's 50-day moving average is $25.78 and its 200-day moving average is $28.44. Open Text Co. has a 52 week low of $22.79 and a 52 week high of $36.25. The firm has a market cap of $7.02 billion, a PE ratio of 11.00 and a beta of 1.13. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.87 and a current ratio of 0.87.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last issued its quarterly earnings data on Thursday, February 6th. The software maker reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.10. Open Text had a net margin of 12.21% and a return on equity of 23.23%. On average, equities analysts forecast that Open Text Co. will post 3.45 EPS for the current year.

Open Text Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a $0.2625 dividend. This is an increase from Open Text's previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.05 annualized dividend and a dividend yield of 3.88%. Open Text's dividend payout ratio is presently 42.68%.

About Open Text

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.