Open Text Co. (NASDAQ:OTEX) Shares Purchased by CDAM UK Ltd

CDAM UK Ltd increased its stake in Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 3.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,279,152 shares of the software maker's stock after purchasing an additional 66,515 shares during the period. Open Text accounts for 9.7% of CDAM UK Ltd's portfolio, making the stock its 7th largest holding. CDAM UK Ltd owned about 0.86% of Open Text worth $64,546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of OTEX. IFP Advisors Inc lifted its position in shares of Open Text by 103.8% in the fourth quarter. IFP Advisors Inc now owns 1,011 shares of the software maker's stock worth $29,000 after purchasing an additional 515 shares in the last quarter. Blue Trust Inc. grew its position in Open Text by 40.8% during the fourth quarter. Blue Trust Inc. now owns 1,373 shares of the software maker's stock worth $39,000 after buying an additional 398 shares in the last quarter. Generali Asset Management SPA SGR bought a new stake in shares of Open Text during the 4th quarter worth approximately $62,000. Allworth Financial LP boosted its stake in Open Text by 20.7% in the fourth quarter. Allworth Financial LP now owns 2,564 shares of the software maker's stock valued at $73,000 after buying an additional 439 shares in the last quarter. Finally, CIBC Private Wealth Group LLC acquired a new stake in shares of Open Text during the 4th quarter valued at $105,000. Institutional investors and hedge funds own 70.37% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada decreased 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 report on Friday, February 7th. StockNews.com downgraded Open Text from a "strong-buy" rating to a "buy" rating in a research note on Monday, January 27th. UBS Group began coverage on shares of Open Text in a research note on Tuesday, December 17th. They set a "neutral" rating and a $32.00 price target on the stock. 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 report on Friday, February 7th. Finally, TD Securities reduced their price objective on Open Text from $38.00 to $35.00 and set a "buy" rating on the stock in a research report on Sunday, February 9th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $35.18.

Open Text Stock Down 3.5 %

NASDAQ OTEX traded down $0.89 on Thursday, reaching $24.40. 697,098 shares of the stock traded hands, compared to its average volume of 802,409. The company has a fifty day moving average price of $26.52 and a 200-day moving average price of $28.98. Open Text Co. has a 12 month low of $22.79 and a 12 month high of $36.72. The company has a market cap of $6.41 billion, a price-to-earnings ratio of 9.90 and a beta of 1.13. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.87 and a current ratio of 0.87.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last issued its quarterly earnings results on Thursday, February 6th. The software maker reported $1.02 earnings per share for the quarter, topping 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 company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a $0.2625 dividend. This is a boost from Open Text's previous quarterly dividend of $0.26. The ex-dividend date was Friday, March 7th. This represents a $1.05 dividend on an annualized basis and a yield of 4.30%. Open Text's payout ratio is presently 42.68%.

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.