Open Text Co. (NASDAQ:OTEX) Shares Bought by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd grew its stake in Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 23.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 298,046 shares of the software maker's stock after acquiring an additional 57,363 shares during the period. AustralianSuper Pty Ltd owned about 0.11% of Open Text worth $8,424,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the stock. Vontobel Holding Ltd. boosted its position in shares of Open Text by 6.5% during the fourth quarter. Vontobel Holding Ltd. now owns 59,351 shares of the software maker's stock worth $1,677,000 after buying an additional 3,600 shares during the period. Louisbourg Investments Inc. grew its position in Open Text by 2.9% in the 4th quarter. Louisbourg Investments Inc. now owns 116,174 shares of the software maker's stock valued at $3,286,000 after acquiring an additional 3,239 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Open Text by 30.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 166,476 shares of the software maker's stock valued at $4,705,000 after acquiring an additional 39,266 shares in the last quarter. Wilmington Savings Fund Society FSB increased its stake in Open Text by 15.2% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 17,253 shares of the software maker's stock worth $489,000 after purchasing an additional 2,270 shares during the period. Finally, Vest Financial LLC purchased a new position in shares of Open Text in the fourth quarter valued at approximately $267,000. Hedge funds and other institutional investors own 70.37% of the company's stock.

Open Text Stock Performance

OTEX traded down $0.35 on Wednesday, reaching $27.48. The company had a trading volume of 855,548 shares, compared to its average volume of 700,280. The stock has a 50-day moving average price of $28.46 and a 200-day moving average price of $30.48. The stock has a market capitalization of $7.25 billion, a PE ratio of 11.17 and a beta of 1.12. Open Text Co. has a 1 year low of $26.84 and a 1 year high of $40.55. 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 announced its earnings results on Thursday, February 6th. The software maker reported $1.02 earnings per share (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, research analysts forecast that Open Text Co. will post 3.45 EPS for the current fiscal year.

Open Text Increases Dividend

The firm 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 is an increase from Open Text's previous quarterly dividend of $0.26. The ex-dividend date is Friday, March 7th. This represents a $1.05 annualized dividend and a yield of 3.82%. Open Text's dividend payout ratio is 42.68%.

Analysts Set New Price Targets

A number of research firms have issued reports on OTEX. TD Securities reduced their target price 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 target price on Open Text from $30.00 to $32.00 and gave the company a "neutral" rating in a report on Friday, February 7th. Barclays upped their price target on Open Text from $34.00 to $36.00 and gave the stock an "equal weight" rating in a report on Friday, February 7th. Royal Bank of Canada decreased their price objective on 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. Finally, BMO Capital Markets cut their target price on shares of Open Text from $33.00 to $32.00 and set a "market perform" rating on the stock in a research note on Friday, November 1st. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target 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.