Deutsche Bank AG Grows Position in Open Text Co. (NASDAQ:OTEX)

Deutsche Bank AG grew its position in Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 9.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 872,591 shares of the software maker's stock after buying an additional 76,802 shares during the period. Deutsche Bank AG owned approximately 0.33% of Open Text worth $24,712,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. First Trust Advisors LP raised its holdings in Open Text by 9.5% in the fourth quarter. First Trust Advisors LP now owns 7,275,908 shares of the software maker's stock worth $205,925,000 after buying an additional 632,437 shares during the last quarter. Cooke & Bieler LP raised its holdings in Open Text by 6.6% in the fourth quarter. Cooke & Bieler LP now owns 6,308,967 shares of the software maker's stock worth $178,670,000 after buying an additional 389,220 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Open Text by 75.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,994,675 shares of the software maker's stock worth $169,555,000 after buying an additional 2,586,549 shares during the last quarter. Brandes Investment Partners LP raised its holdings in Open Text by 29.2% in the fourth quarter. Brandes Investment Partners LP now owns 4,504,139 shares of the software maker's stock worth $127,557,000 after buying an additional 1,017,065 shares during the last quarter. Finally, Guardian Capital LP grew its stake in shares of Open Text by 2.8% in the fourth quarter. Guardian Capital LP now owns 4,011,047 shares of the software maker's stock worth $113,454,000 after acquiring an additional 110,951 shares during the period. 70.37% of the stock is owned by hedge funds and other institutional investors.

Open Text Stock Performance

NASDAQ OTEX traded up $0.17 during trading hours on Friday, hitting $28.14. 1,456,760 shares of the company's stock traded hands, compared to its average volume of 836,531. The business's fifty day moving average price is $26.04 and its two-hundred day moving average price is $27.69. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $7.31 billion, a P/E ratio of 11.44 and a beta of 1.15. Open Text Co. has a 52 week low of $22.79 and a 52 week high of $34.20.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last posted its quarterly earnings results on Wednesday, April 30th. The software maker reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.01. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.28 billion. Open Text had a net margin of 12.21% and a return on equity of 23.23%. The company's revenue was down 13.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.94 earnings per share. Equities research analysts predict that Open Text Co. will post 3.45 EPS for the current year.

Open Text Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a $0.2625 dividend. This represents a $1.05 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend is Friday, June 6th. Open Text's dividend payout ratio (DPR) is presently 42.86%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on OTEX shares. Citigroup lifted their price target on shares of Open Text from $29.00 to $43.00 and gave the stock a "negative" rating in a research note on Friday, May 2nd. National Bankshares reduced their price target 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. UBS Group reduced their price target on shares of Open Text from $32.00 to $28.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Royal Bank of Canada reduced their price target on shares of Open Text from $31.00 to $30.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 22nd. Finally, CIBC reduced their price target on shares of Open Text from $33.00 to $31.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Open Text currently has an average rating of "Hold" and an average target price of $32.30.

Open Text Company 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.