Moloney Securities Asset Management LLC Trims Stock Holdings in Open Text Co. (NASDAQ:OTEX)

Moloney Securities Asset Management LLC decreased its stake in shares of Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 79.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,445 shares of the software maker's stock after selling 63,983 shares during the quarter. Moloney Securities Asset Management LLC's holdings in Open Text were worth $466,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in Open Text by 435.7% during the third quarter. Blue Trust Inc. now owns 975 shares of the software maker's stock valued at $32,000 after buying an additional 793 shares during the last quarter. Cromwell Holdings LLC raised its stake in Open Text by 29.6% during the third quarter. Cromwell Holdings LLC now owns 1,663 shares of the software maker's stock valued at $55,000 after buying an additional 380 shares during the last quarter. Essex LLC purchased a new position in shares of Open Text in the third quarter worth $210,000. Net Worth Advisory Group purchased a new position in shares of Open Text in the third quarter worth $226,000. Finally, Vest Financial LLC purchased a new position in shares of Open Text in the fourth quarter worth $267,000. Hedge funds and other institutional investors own 70.37% of the company's stock.

Open Text Price Performance

Shares of NASDAQ:OTEX traded down $0.31 during mid-day trading on Friday, reaching $28.41. The stock had a trading volume of 572,408 shares, compared to its average volume of 686,457. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.54. The company has a market cap of $7.49 billion, a P/E ratio of 11.55 and a beta of 1.12. Open Text Co. has a 1 year low of $26.84 and a 1 year high of $40.69. The business's 50 day moving average price is $28.66 and its 200 day moving average price is $30.55.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last issued its quarterly earnings data on Thursday, February 6th. The software maker reported $1.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.10. Open Text had a return on equity of 23.33% and a net margin of 12.21%. Research analysts expect that Open Text Co. will post 3.37 EPS for the current fiscal year.

Open Text Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be given a dividend of $0.2625 per share. The ex-dividend date of this dividend is Friday, March 7th. 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 3.70%. Open Text's dividend payout ratio is 42.68%.

Analysts Set New Price Targets

OTEX has been the subject of several recent analyst reports. TD Securities decreased their price target on Open Text from $38.00 to $35.00 and set a "buy" rating for the company in a research note on Sunday, February 9th. Citigroup lifted their price objective on Open Text from $30.00 to $32.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. StockNews.com lowered Open Text from a "strong-buy" rating to a "buy" rating in a report on Monday, January 27th. UBS Group initiated coverage on Open Text in a report on Tuesday, December 17th. They issued a "neutral" rating and a $32.00 price objective for the company. Finally, Royal Bank of Canada cut their price target on Open Text from $33.00 to $31.00 and set a "sector perform" rating for the company in a report 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 MarketBeat, the stock currently 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.