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Brandes Investment Partners LP Buys 1,017,065 Shares of Open Text Co. (NASDAQ:OTEX)

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Brandes Investment Partners LP raised its holdings in shares of Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 29.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,504,139 shares of the software maker's stock after acquiring an additional 1,017,065 shares during the quarter. Open Text makes up about 1.4% of Brandes Investment Partners LP's investment portfolio, making the stock its 23rd biggest position. Brandes Investment Partners LP owned about 1.71% of Open Text worth $127,557,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Cooke & Bieler LP raised its holdings in Open Text by 6.6% during the fourth quarter. Cooke & Bieler LP now owns 6,308,967 shares of the software maker's stock valued at $178,670,000 after acquiring an additional 389,220 shares during the period. The Manufacturers Life Insurance Company raised its holdings in 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 valued at $187,952,000 after acquiring an additional 63,620 shares during the period. National Bank of Canada FI raised its holdings in 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 valued at $135,399,000 after acquiring an additional 46,223 shares during the period. Geode Capital Management LLC raised its holdings in Open Text by 4.6% during 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 acquiring an additional 61,696 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Open Text by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 677,709 shares of the software maker's stock valued at $19,170,000 after acquiring an additional 5,177 shares during the period. 70.37% of the stock is owned by institutional investors.

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Open Text Trading Up 0.8 %

NASDAQ OTEX traded up $0.22 during trading on Wednesday, hitting $26.31. The stock had a trading volume of 989,612 shares, compared to its average volume of 745,052. 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 stock has a market capitalization of $6.95 billion, a price-to-earnings ratio of 10.70 and a beta of 1.17. Open Text Co. has a one year low of $24.86 and a one year high of $40.55. The stock has a 50 day simple moving average of $27.59 and a 200 day simple moving average of $29.79.

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

Open Text Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be paid a $0.2625 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.05 annualized dividend and a yield of 3.99%. This is an increase from Open Text's previous quarterly dividend of $0.26. Open Text's dividend payout ratio (DPR) is presently 42.68%.

Analyst Upgrades and Downgrades

OTEX has been the topic of a number of recent analyst reports. Citigroup raised their price target on Open Text from $30.00 to $32.00 and gave the company a "neutral" rating in a report on Friday, February 7th. UBS Group started coverage on Open Text in a research report on Tuesday, December 17th. They set a "neutral" rating and a $32.00 price objective for the company. Barclays raised their price objective on Open Text from $34.00 to $36.00 and gave the company an "equal weight" rating in a research report on Friday, February 7th. StockNews.com lowered Open Text from a "strong-buy" rating to a "buy" rating in a research report on Monday, January 27th. Finally, TD Securities cut their price objective on Open Text from $38.00 to $35.00 and set a "buy" rating for the company in a research report on Sunday, February 9th. Nine equities 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.com, the company presently has an average rating of "Hold" and a consensus price target of $35.18.

Read Our Latest Stock Report on Open Text

About Open Text

(Free Report)

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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Institutional Ownership by Quarter for Open Text (NASDAQ:OTEX)

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