First Trust Advisors LP Has $205.93 Million Holdings in Open Text Co. (NASDAQ:OTEX)

First Trust Advisors LP boosted its holdings in Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 9.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,275,908 shares of the software maker's stock after purchasing an additional 632,437 shares during the period. First Trust Advisors LP owned about 2.76% of Open Text worth $205,925,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the business. Cooke & Bieler LP raised its position in shares of Open Text by 6.6% during the 4th 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 in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Open Text by 75.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,994,675 shares of the software maker's stock valued at $169,555,000 after purchasing an additional 2,586,549 shares during the last quarter. Brandes Investment Partners LP raised its holdings in shares of Open Text by 29.2% during the fourth quarter. Brandes Investment Partners LP now owns 4,504,139 shares of the software maker's stock worth $127,557,000 after purchasing an additional 1,017,065 shares during the period. Norges Bank bought a new position in shares of Open Text in the 4th quarter worth about $93,216,000. Finally, FIL Ltd boosted its holdings in shares of Open Text by 27.9% in the 4th quarter. FIL Ltd now owns 2,381,553 shares of the software maker's stock valued at $67,398,000 after buying an additional 519,004 shares during the period. 70.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Barclays cut their target price on Open Text from $36.00 to $29.00 and set an "equal weight" rating on the stock in a research note on Monday. StockNews.com lowered Open Text from a "strong-buy" rating to a "buy" rating in a research report on Monday, January 27th. 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. Royal Bank of Canada decreased their target price on shares of Open Text from $31.00 to $30.00 and set a "sector perform" rating for the company in a research report on Tuesday. Finally, TD Securities decreased their price target on shares of 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 given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $34.45.

Open Text Stock Up 3.8 %

Shares of NASDAQ OTEX traded up $0.98 during mid-day trading on Thursday, reaching $26.87. The company had a trading volume of 984,029 shares, compared to its average volume of 819,304. 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 Co. has a twelve month low of $22.79 and a twelve month high of $36.37. The stock's 50 day moving average is $25.81 and its 200-day moving average is $28.48. The stock has a market capitalization of $6.98 billion, a PE ratio of 10.92 and a beta of 1.13.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last issued its earnings results on Thursday, February 6th. The software maker reported $1.02 earnings per share for the quarter, topping the consensus estimate 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, equities analysts anticipate that Open Text Co. will post 3.45 earnings per share for the current fiscal year.

Open Text Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid a $0.2625 dividend. The ex-dividend date of this dividend was Friday, March 7th. This is a boost from Open Text's previous quarterly dividend of $0.26. This represents a $1.05 dividend on an annualized basis and a yield of 3.91%. Open Text's payout ratio is 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.