1,161,369 Shares in Open Text Co. (NASDAQ:OTEX) Purchased by Criteria Caixa S.A.U.

Criteria Caixa S.A.U. bought a new stake in shares of Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,161,369 shares of the software maker's stock, valued at approximately $32,890,000. Open Text accounts for about 4.7% of Criteria Caixa S.A.U.'s investment portfolio, making the stock its 10th largest position. Criteria Caixa S.A.U. owned 0.44% of Open Text at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Wilmington Savings Fund Society FSB purchased a new position in shares of Open Text in the 3rd quarter worth approximately $499,000. Franklin Resources Inc. lifted its holdings in shares of Open Text by 19.9% during the 3rd quarter. Franklin Resources Inc. now owns 205,891 shares of the software maker's stock valued at $7,086,000 after purchasing an additional 34,135 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Open Text by 5.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 19,921 shares of the software maker's stock valued at $563,000 after acquiring an additional 1,049 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of Open Text during the fourth quarter worth $2,372,000. Finally, Canoe Financial LP grew its holdings in shares of Open Text by 127.3% during the fourth quarter. Canoe Financial LP now owns 150,000 shares of the software maker's stock valued at $4,242,000 after buying an additional 84,000 shares during the last quarter. Institutional investors own 70.37% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. National Bankshares dropped their price target on Open Text from $38.00 to $34.00 and set a "sector perform" rating on the stock in a research note on Friday. TD Securities cut their price target on shares of Open Text from $38.00 to $35.00 and set a "buy" rating on the stock in a report on Sunday, February 9th. Citigroup lifted their price objective on shares of Open Text from $30.00 to $32.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. Royal Bank of Canada cut their price objective on shares of Open Text from $31.00 to $30.00 and set a "sector perform" rating on the stock in a research note on Tuesday, April 22nd. Finally, StockNews.com lowered shares of Open Text from a "strong-buy" rating to a "buy" rating in a report on Monday, January 27th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $34.09.

Open Text Stock Performance

OTEX opened at $27.00 on Friday. The firm's fifty day simple moving average is $25.76 and its two-hundred day simple moving average is $28.36. Open Text Co. has a 52-week low of $22.79 and a 52-week high of $36.05. The company has a market cap of $7.01 billion, a price-to-earnings ratio of 10.98 and a beta of 1.13. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.50.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last posted its quarterly earnings results on Thursday, February 6th. The software maker reported $1.02 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.10. Open Text had a net margin of 12.21% and a return on equity of 23.23%. Equities analysts anticipate that Open Text Co. will post 3.45 earnings per share for the current fiscal year.

Open Text Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid a dividend of $0.2625 per share. The ex-dividend date of this dividend was Friday, March 7th. This is an increase from Open Text's previous quarterly dividend of $0.26. This represents a $1.05 dividend on an annualized basis and a yield of 3.89%. Open Text's payout ratio is 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.

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