Open Text Co. (NASDAQ:OTEX) Shares Purchased by Andra AP fonden

Andra AP fonden increased its holdings in Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 386.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 267,600 shares of the software maker's stock after acquiring an additional 212,600 shares during the quarter. Andra AP fonden owned approximately 0.10% of Open Text worth $7,578,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of OTEX. The Manufacturers Life Insurance Company raised its stake in shares of Open Text by 1.1% during the third quarter. The Manufacturers Life Insurance Company now owns 5,642,455 shares of the software maker's stock worth $187,952,000 after purchasing an additional 63,620 shares during the last quarter. National Bank of Canada FI increased its stake in shares of Open Text by 1.1% during the third quarter. National Bank of Canada FI now owns 4,068,116 shares of the software maker's stock worth $135,399,000 after acquiring an additional 46,223 shares during the period. Geode Capital Management LLC lifted its position in Open Text by 4.6% in the third quarter. Geode Capital Management LLC now owns 1,397,853 shares of the software maker's stock valued at $46,460,000 after purchasing an additional 61,696 shares during the period. Charles Schwab Investment Management Inc. increased its position in Open Text by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 677,709 shares of the software maker's stock worth $19,170,000 after purchasing an additional 5,177 shares during the period. Finally, Toronto Dominion Bank raised its stake in shares of Open Text by 169.6% during the 3rd quarter. Toronto Dominion Bank now owns 576,105 shares of the software maker's stock worth $19,173,000 after buying an additional 362,422 shares in the last quarter. Institutional investors and hedge funds own 70.37% of the company's stock.

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Open Text Trading Down 1.2 %

Shares of Open Text stock traded down $0.30 during mid-day trading on Wednesday, hitting $25.28. 1,249,562 shares of the stock were exchanged, compared to its average volume of 1,096,974. The stock has a market capitalization of $6.67 billion, a price-to-earnings ratio of 10.28 and a beta of 1.17. Open Text Co. has a twelve month low of $24.91 and a twelve month high of $40.55. 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 company has a 50-day simple moving average of $27.86 and a 200 day simple moving average of $30.02.

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

Open Text Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be given a $0.2625 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.05 dividend on an annualized basis and a dividend yield of 4.15%. This is an increase from Open Text's previous quarterly dividend of $0.26. Open Text's payout ratio is currently 42.68%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on OTEX. Barclays lifted their price target on Open Text from $34.00 to $36.00 and gave the company an "equal weight" rating in a research note on Friday, February 7th. Citigroup upped their price target on shares of Open Text from $30.00 to $32.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Royal Bank of Canada reduced their price objective on shares of Open Text from $33.00 to $31.00 and set a "sector perform" rating for the company in a research note on Friday, February 7th. TD Securities dropped their target price on shares of Open Text from $38.00 to $35.00 and set a "buy" rating for the company in a report on Sunday, February 9th. Finally, UBS Group initiated coverage on Open Text in a report on Tuesday, December 17th. They issued a "neutral" rating and a $32.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock 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.