Invesco Ltd. Reduces Holdings in Open Text Co. (NASDAQ:OTEX)

Invesco Ltd. lessened its stake in Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 1.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,190,747 shares of the software maker's stock after selling 38,477 shares during the quarter. Invesco Ltd. owned about 1.21% of Open Text worth $90,362,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in OTEX. Norges Bank acquired a new stake in shares of Open Text in the 4th quarter worth $93,216,000. Arrowstreet Capital Limited Partnership raised its position in shares of Open Text by 75.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,994,675 shares of the software maker's stock valued at $169,555,000 after buying an additional 2,586,549 shares during the period. Brandes Investment Partners LP grew its position in Open Text by 29.2% in the fourth quarter. Brandes Investment Partners LP now owns 4,504,139 shares of the software maker's stock worth $127,557,000 after acquiring an additional 1,017,065 shares during the period. Grantham Mayo Van Otterloo & Co. LLC increased its stake in Open Text by 84.3% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,297,772 shares of the software maker's stock worth $36,738,000 after acquiring an additional 593,447 shares during the last quarter. Finally, Cooke & Bieler LP raised its position in Open Text by 6.6% in the fourth quarter. Cooke & Bieler LP now owns 6,308,967 shares of the software maker's stock valued at $178,670,000 after purchasing an additional 389,220 shares during the period. Hedge funds and other institutional investors own 70.37% of the company's stock.

Open Text Stock Down 0.2 %

Shares of OTEX stock traded down $0.06 on Friday, reaching $25.51. 574,103 shares of the stock were exchanged, compared to its average volume of 814,040. The company has a market capitalization of $6.70 billion, a price-to-earnings ratio of 10.37 and a beta of 1.13. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.50. The business's 50 day moving average price is $26.06 and its 200 day moving average price is $28.69. Open Text Co. has a twelve month low of $22.79 and a twelve month high of $36.39.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last released its quarterly earnings data on Thursday, February 6th. The software maker reported $1.02 EPS for the quarter, beating 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, sell-side analysts expect that Open Text Co. will post 3.45 earnings per share for the current fiscal year.

Open Text Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a dividend of $0.2625 per share. This represents a $1.05 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend was Friday, March 7th. This is an increase from Open Text's previous quarterly dividend of $0.26. Open Text's payout ratio is currently 42.68%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. StockNews.com cut Open Text from a "strong-buy" rating to a "buy" rating in a 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 on the stock in a research note on Friday, February 7th. Barclays increased their price objective on shares of Open Text from $34.00 to $36.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. TD Securities dropped their target price on shares of Open Text from $38.00 to $35.00 and set a "buy" rating for the company in a report on Sunday, February 9th. Finally, Citigroup raised their price target on Open Text from $30.00 to $32.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price 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.