American Century Companies Inc. Has $8.46 Million Stake in Open Text Co. (NASDAQ:OTEX)

American Century Companies Inc. raised its stake in Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 406.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 298,979 shares of the software maker's stock after buying an additional 239,906 shares during the quarter. American Century Companies Inc. owned about 0.11% of Open Text worth $8,461,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brandes Investment Partners LP grew its holdings in shares of Open Text by 29.2% during 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 in the last quarter. Cooke & Bieler LP grew its stake in shares of Open Text by 6.6% during the 4th quarter. Cooke & Bieler LP now owns 6,308,967 shares of the software maker's stock worth $178,670,000 after acquiring an additional 389,220 shares in the last quarter. Toronto Dominion Bank raised its holdings in shares of Open Text by 169.6% in the third quarter. Toronto Dominion Bank now owns 576,105 shares of the software maker's stock valued at $19,173,000 after purchasing an additional 362,422 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Open Text in the fourth quarter valued at $8,685,000. Finally, Andra AP fonden increased its stake in Open Text by 386.5% in the 4th quarter. Andra AP fonden now owns 267,600 shares of the software maker's stock valued at $7,578,000 after buying an additional 212,600 shares during the last quarter. Institutional investors and hedge funds own 70.37% of the company's stock.

Remove Ads

Open Text Price Performance

Shares of OTEX traded up $0.16 during mid-day trading on Tuesday, reaching $23.20. The company had a trading volume of 1,693,998 shares, compared to its average volume of 798,625. The company's 50 day simple moving average is $26.70 and its 200 day simple moving average is $29.07. The company has a market capitalization of $6.10 billion, a price-to-earnings ratio of 9.43 and a beta of 1.13. Open Text Co. has a 1-year low of $22.79 and a 1-year high of $37.39. 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 posted its 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%. Analysts expect 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. Shareholders of record on Friday, March 7th were given a $0.2625 dividend. 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 annualized dividend and a yield of 4.53%. Open Text's dividend payout ratio (DPR) is currently 42.68%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OTEX. UBS Group initiated coverage on Open Text in a research report on Tuesday, December 17th. They set a "neutral" rating and a $32.00 price target on the stock. Royal Bank of Canada dropped their price target on shares of Open Text from $33.00 to $31.00 and set a "sector perform" rating on the stock in a research report on Friday, February 7th. Barclays lifted their price objective on shares of Open Text from $34.00 to $36.00 and gave the company an "equal weight" rating in a research report on Friday, February 7th. TD Securities cut their target price 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, StockNews.com lowered Open Text from a "strong-buy" rating to a "buy" rating in a report on Monday, January 27th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $35.18.

Open Text 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.