Grantham Mayo Van Otterloo & Co. LLC Boosts Stock Holdings in Open Text Co. (NASDAQ:OTEX)

Grantham Mayo Van Otterloo & Co. LLC grew its stake in shares of Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 84.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,297,772 shares of the software maker's stock after buying an additional 593,447 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned approximately 0.49% of Open Text worth $36,738,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. IFP Advisors Inc grew its stake 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 during the last quarter. Blue Trust Inc. grew its position in shares of Open Text by 40.8% in the 4th quarter. Blue Trust Inc. now owns 1,373 shares of the software maker's stock valued at $39,000 after buying an additional 398 shares during the last quarter. Generali Asset Management SPA SGR acquired a new stake in shares of Open Text in the fourth quarter valued at about $62,000. Allworth Financial LP raised its position in shares of Open Text by 20.7% during the fourth quarter. Allworth Financial LP now owns 2,564 shares of the software maker's stock worth $73,000 after acquiring an additional 439 shares during the last quarter. Finally, CIBC Private Wealth Group LLC acquired a new position in shares of Open Text in the fourth quarter worth approximately $105,000. 70.37% of the stock is currently owned by institutional investors and hedge funds.

Open Text Stock Performance

Open Text stock traded up $0.37 during mid-day trading on Friday, reaching $25.06. 388,503 shares of the company's stock were exchanged, compared to its average volume of 805,589. The firm has a market capitalization of $6.59 billion, a PE ratio of 10.12 and a beta of 1.13. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.50. The business's fifty day simple moving average is $26.43 and its 200 day simple moving average is $28.92. Open Text Co. has a one year low of $22.79 and a one year high of $36.39.

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 net margin of 12.21% and a return on equity of 23.23%. On average, sell-side analysts expect that Open Text Co. will post 3.45 earnings per share for the current year.

Open Text Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a $0.2625 dividend. This is an increase from Open Text's previous quarterly dividend of $0.26. This represents a $1.05 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend was Friday, March 7th. Open Text's dividend payout ratio (DPR) is currently 42.68%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Barclays raised their price target 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. Citigroup upped their price target on shares of Open Text from $30.00 to $32.00 and gave the company a "neutral" 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. Royal Bank of Canada reduced their price target 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. Finally, UBS Group began coverage on shares of Open Text in a report on Tuesday, December 17th. They set a "neutral" rating and a $32.00 price objective on the stock. 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.com, the stock has a consensus rating of "Hold" and an average price target of $35.18.

Open Text Company 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.