Amundi Acquires 69,686 Shares of Open Text Co. (NASDAQ:OTEX)

Amundi raised its position in Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 15.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 526,409 shares of the software maker's stock after acquiring an additional 69,686 shares during the period. Amundi owned about 0.20% of Open Text worth $14,671,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Toronto Dominion Bank lifted its position in Open Text by 169.6% in the third quarter. Toronto Dominion Bank now owns 576,105 shares of the software maker's stock worth $19,173,000 after purchasing an additional 362,422 shares during the period. Andra AP fonden raised its stake in Open Text by 386.5% during the fourth quarter. Andra AP fonden now owns 267,600 shares of the software maker's stock worth $7,578,000 after acquiring an additional 212,600 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Open Text during the fourth quarter valued at $3,572,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Open Text in the 4th quarter worth about $2,810,000. Finally, PDT Partners LLC bought a new position in Open Text during the 3rd quarter valued at about $3,252,000. Institutional investors own 70.37% of the company's stock.

Open Text Trading Up 0.3 %

OTEX traded up $0.08 during trading on Tuesday, reaching $26.09. 849,751 shares of the company's stock were exchanged, compared to its average volume of 742,421. The company's fifty day moving average price is $27.63 and its 200-day moving average price is $29.83. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market capitalization of $6.89 billion, a PE ratio of 10.61 and a beta of 1.17. Open Text Co. has a fifty-two week low of $24.86 and a fifty-two week high of $40.55.

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Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last released its quarterly earnings data on Thursday, February 6th. The software maker reported $1.02 EPS for the quarter, beating analysts' consensus estimates of $0.92 by $0.10. Open Text had a return on equity of 23.23% and a net margin of 12.21%. As a group, equities analysts forecast that Open Text Co. will post 3.45 EPS for the current year.

Open Text Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be given a $0.2625 dividend. This represents a $1.05 dividend on an annualized basis and a dividend yield of 4.02%. This is an increase from Open Text's previous quarterly dividend of $0.26. The ex-dividend date is Friday, March 7th. Open Text's dividend payout ratio (DPR) is currently 42.68%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on OTEX. StockNews.com downgraded Open Text from a "strong-buy" rating to a "buy" rating in a report on Monday, January 27th. UBS Group assumed coverage on Open Text in a research note on Tuesday, December 17th. They issued a "neutral" rating and a $32.00 target price for the company. TD Securities reduced their price target on shares of Open Text from $38.00 to $35.00 and set a "buy" rating on the stock in a research report on Sunday, February 9th. Barclays upped their target price on shares of Open Text from $34.00 to $36.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. Finally, Royal Bank of Canada lowered their price target on shares of Open Text from $33.00 to $31.00 and set a "sector perform" rating for the company in a report on Friday, February 7th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Open Text presently has a consensus rating of "Hold" and an average target price of $35.18.

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.