Captrust Financial Advisors Sells 19,259 Shares of Open Text Co. (NASDAQ:OTEX)

Captrust Financial Advisors decreased its holdings in shares of Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 45.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,933 shares of the software maker's stock after selling 19,259 shares during the quarter. Captrust Financial Advisors' holdings in Open Text were worth $763,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in OTEX. Hantz Financial Services Inc. bought a new stake in Open Text during the 3rd quarter worth $1,141,000. Northwest & Ethical Investments L.P. boosted its stake in shares of Open Text by 6.5% during the third quarter. Northwest & Ethical Investments L.P. now owns 148,188 shares of the software maker's stock valued at $4,933,000 after purchasing an additional 9,107 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Open Text by 30.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 64,690 shares of the software maker's stock worth $2,156,000 after purchasing an additional 15,244 shares during the last quarter. Bridgewater Associates LP acquired a new position in shares of Open Text in the third quarter valued at approximately $1,257,000. Finally, BNP Paribas Financial Markets raised its holdings in Open Text by 3.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,093 shares of the software maker's stock valued at $369,000 after buying an additional 351 shares during the last quarter. Institutional investors own 70.37% of the company's stock.

Open Text Trading Up 0.3 %

Shares of Open Text stock traded up $0.08 on Wednesday, hitting $30.36. 458,648 shares of the company's stock traded hands, compared to its average volume of 646,774. The company has a market capitalization of $8.07 billion, a price-to-earnings ratio of 17.55 and a beta of 1.11. The company has a fifty day moving average of $31.31 and a two-hundred day moving average of $31.02. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.79 and a quick ratio of 0.79. Open Text Co. has a one year low of $27.50 and a one year high of $45.47.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last announced its quarterly earnings data on Thursday, October 31st. The software maker reported $0.93 EPS for the quarter, topping the consensus estimate of $0.80 by $0.13. Open Text had a net margin of 8.35% and a return on equity of 24.34%. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the firm posted $0.90 EPS. The company's quarterly revenue was down 11.0% on a year-over-year basis. As a group, sell-side analysts expect that Open Text Co. will post 3.37 earnings per share for the current year.

Open Text Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 29th will be paid a $0.262 dividend. This is an increase from Open Text's previous quarterly dividend of $0.19. This represents a $1.05 annualized dividend and a yield of 3.45%. The ex-dividend date is Friday, November 29th. Open Text's payout ratio is 60.69%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on OTEX shares. Citigroup reduced their target price on shares of Open Text from $34.00 to $33.00 and set a "neutral" rating on the stock in a report on Friday, November 1st. Royal Bank of Canada cut shares of Open Text from an "outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $45.00 to $33.00 in a research note on Friday, November 1st. Scotiabank lowered their target price on Open Text from $40.00 to $35.00 and set a "sector perform" rating for the company in a research report on Friday, November 1st. TD Securities cut their target price on Open Text from $40.00 to $38.00 and set a "buy" rating on the stock in a report on Friday, November 1st. Finally, Barclays decreased their price target on Open Text from $36.00 to $34.00 and set an "equal weight" rating for the company in a research note on Friday, November 1st. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $35.90.

About Open Text

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.