Wellington Management Group LLP Has $7.45 Million Holdings in Open Text Co. (NASDAQ:OTEX)

Wellington Management Group LLP grew its holdings in Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 31.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 263,239 shares of the software maker's stock after buying an additional 62,934 shares during the quarter. Wellington Management Group LLP owned about 0.10% of Open Text worth $7,446,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of OTEX. O Shaughnessy Asset Management LLC increased its position in shares of Open Text by 27.2% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 49,241 shares of the software maker's stock valued at $1,392,000 after buying an additional 10,534 shares in the last quarter. CIBC Private Wealth Group LLC acquired a new position in Open Text during the fourth quarter worth about $105,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of 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 valued at $169,555,000 after purchasing an additional 2,586,549 shares in the last quarter. Pictet Asset Management Holding SA raised its position in shares of Open Text by 24.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 155,945 shares of the software maker's stock worth $4,411,000 after purchasing an additional 30,585 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Open Text in the fourth quarter valued at $93,216,000. Hedge funds and other institutional investors own 70.37% of the company's stock.

Open Text Stock Down 0.1 %

NASDAQ OTEX traded down $0.04 during trading on Wednesday, reaching $25.58. The company's stock had a trading volume of 154,201 shares, compared to its average volume of 807,898. 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 stock has a market capitalization of $6.72 billion, a PE ratio of 10.40 and a beta of 1.13. Open Text Co. has a 1-year low of $22.79 and a 1-year high of $36.39. The business has a 50-day moving average price of $26.17 and a 200-day moving average price of $28.76.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last posted its earnings results on Thursday, February 6th. The software maker reported $1.02 EPS for the quarter, topping 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, research analysts forecast that Open Text Co. will post 3.45 earnings per share for the current fiscal year.

Open Text Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a dividend of $0.2625 per share. This is an increase from Open Text's previous quarterly dividend of $0.26. This represents a $1.05 annualized dividend and a dividend yield of 4.11%. The ex-dividend date was Friday, March 7th. Open Text's dividend payout ratio is currently 42.68%.

Wall Street Analysts Forecast Growth

OTEX has been the subject of a number of research analyst reports. Royal Bank of Canada dropped their target price on shares of Open Text from $33.00 to $31.00 and set a "sector perform" rating for the company in a research report on Friday, February 7th. UBS Group started coverage on Open Text in a report on Tuesday, December 17th. They issued a "neutral" rating and a $32.00 price target for the company. Barclays upped their target price on Open Text from $34.00 to $36.00 and gave the company an "equal weight" rating in a research report on Friday, February 7th. StockNews.com cut shares of Open Text from a "strong-buy" rating to a "buy" rating in a report on Monday, January 27th. Finally, Citigroup lifted their target price on Open Text from $30.00 to $32.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Open Text presently has an average rating of "Hold" and an average price target of $35.18.

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.