Susquehanna Fundamental Investments LLC Makes New Investment in Open Text Co. (NASDAQ:OTEX)

Susquehanna Fundamental Investments LLC purchased a new stake in Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 143,500 shares of the software maker's stock, valued at approximately $4,064,000. Susquehanna Fundamental Investments LLC owned approximately 0.05% of Open Text as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. IFP Advisors Inc raised its position in shares of Open Text by 103.8% during the fourth quarter. IFP Advisors Inc now owns 1,011 shares of the software maker's stock worth $29,000 after purchasing an additional 515 shares during the period. Blue Trust Inc. raised its holdings in Open Text by 40.8% during the 4th quarter. Blue Trust Inc. now owns 1,373 shares of the software maker's stock worth $39,000 after buying an additional 398 shares during the period. Generali Asset Management SPA SGR purchased a new stake in Open Text during the fourth quarter valued at about $62,000. Allworth Financial LP boosted its holdings in shares of Open Text by 20.7% in the fourth quarter. Allworth Financial LP now owns 2,564 shares of the software maker's stock worth $73,000 after buying an additional 439 shares during the period. Finally, Natixis increased its position in shares of Open Text by 1,075.1% in the fourth quarter. Natixis now owns 3,161 shares of the software maker's stock worth $90,000 after acquiring an additional 2,892 shares in the last quarter. Institutional investors and hedge funds own 70.37% of the company's stock.

Open Text Stock Up 1.2 %

NASDAQ:OTEX traded up $0.31 during mid-day trading on Friday, reaching $26.16. The stock had a trading volume of 1,873,314 shares, compared to its average volume of 822,534. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market cap of $6.79 billion, a P/E ratio of 10.63 and a beta of 1.13. The business's 50 day moving average is $25.72 and its 200 day moving average is $28.11. Open Text Co. has a fifty-two week low of $22.79 and a fifty-two week high of $34.20.

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

Open Text Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.2625 per share. The ex-dividend date is Friday, June 6th. This represents a $1.05 annualized dividend and a dividend yield of 4.01%. Open Text's dividend payout ratio (DPR) is presently 42.68%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on OTEX shares. StockNews.com downgraded shares of Open Text from a "strong-buy" rating to a "buy" rating in a research report on Monday, January 27th. UBS Group lowered their price target on Open Text from $32.00 to $28.00 and set a "neutral" rating on the stock in a report on Friday. Royal Bank of Canada reduced their price objective on 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. National Bankshares dropped their target price on Open Text from $38.00 to $34.00 and set a "sector perform" rating on the stock in a report on Friday, April 25th. Finally, Citigroup raised their price target on shares of Open Text from $29.00 to $43.00 and gave the stock a "negative" rating in a report on Friday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $32.30.

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.