Guardian Partners Inc. Acquires New Stake in Open Text Co. (NASDAQ:OTEX)

Guardian Partners Inc. acquired a new stake in shares of Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 185,772 shares of the software maker's stock, valued at approximately $5,180,000. Guardian Partners Inc. owned about 0.07% of Open Text as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Sei Investments Co. lifted its holdings in Open Text by 7.4% during the fourth quarter. Sei Investments Co. now owns 238,629 shares of the software maker's stock valued at $6,758,000 after purchasing an additional 16,540 shares in the last quarter. American Century Companies Inc. raised its position in shares of Open Text by 406.1% during the 4th quarter. American Century Companies Inc. now owns 298,979 shares of the software maker's stock valued at $8,461,000 after purchasing an additional 239,906 shares during the period. Quantbot Technologies LP purchased a new position in shares of Open Text during the 4th quarter valued at $830,000. Northwest & Ethical Investments L.P. boosted its holdings in Open Text by 36.9% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 202,887 shares of the software maker's stock worth $5,731,000 after buying an additional 54,699 shares during the period. Finally, Blueshift Asset Management LLC purchased a new stake in Open Text in the 4th quarter worth $377,000. Institutional investors own 70.37% of the company's stock.

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Open Text Trading Down 1.2 %

Shares of NASDAQ:OTEX traded down $0.33 during trading on Thursday, hitting $26.49. The company had a trading volume of 609,664 shares, compared to its average volume of 757,977. The stock has a market cap of $6.96 billion, a price-to-earnings ratio of 10.77 and a beta of 1.17. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.87 and a quick ratio of 0.87. The company has a fifty day simple moving average of $27.43 and a two-hundred day simple moving average of $29.57. Open Text Co. has a one year low of $24.86 and a one year high of $39.13.

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 (EPS) 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, equities analysts forecast that Open Text Co. will post 3.45 earnings per share for the current year.

Open Text Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were paid a dividend of $0.2625 per share. 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 dividend yield of 3.96%. Open Text's payout ratio is currently 42.68%.

Wall Street Analysts Forecast Growth

OTEX has been the topic of several research analyst reports. Royal Bank of Canada lowered their price objective on Open Text from $33.00 to $31.00 and set a "sector perform" rating on the stock in a research report on Friday, February 7th. Barclays boosted their price target on Open Text from $34.00 to $36.00 and gave the stock an "equal weight" rating in a report on Friday, February 7th. UBS Group assumed coverage on shares of Open Text in a report on Tuesday, December 17th. They set a "neutral" rating and a $32.00 price objective for the company. TD Securities lowered their target price on shares of Open Text from $38.00 to $35.00 and set a "buy" rating on the stock in a report on Sunday, February 9th. Finally, Citigroup raised their target price on shares of Open Text from $30.00 to $32.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Open Text currently has a consensus rating of "Hold" and an average target price of $35.18.

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.