Dimensional Fund Advisors LP Has $23.66 Million Stock Position in Open Text Co. (NASDAQ:OTEX)

Dimensional Fund Advisors LP boosted its position in Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 6.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 787,619 shares of the software maker's stock after buying an additional 45,380 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.29% of Open Text worth $23,660,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of OTEX. Ridgewood Investments LLC bought a new stake in shares of Open Text during the 2nd quarter valued at about $30,000. Headlands Technologies LLC bought a new stake in shares of Open Text in the 1st quarter worth approximately $32,000. UniSuper Management Pty Ltd boosted its position in Open Text by 105.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 3,900 shares of the software maker's stock valued at $151,000 after purchasing an additional 2,000 shares during the period. PNC Financial Services Group Inc. grew its stake in Open Text by 27.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,692 shares of the software maker's stock worth $197,000 after buying an additional 1,023 shares during the last quarter. Finally, Syon Capital LLC acquired a new stake in Open Text in the fourth quarter worth $243,000. Institutional investors and hedge funds own 70.37% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. National Bankshares lowered shares of Open Text from an "outperform" rating to a "sector perform" rating and set a $38.00 target price for the company. in a research note on Friday, August 2nd. National Bank Financial lowered Open Text from an "outperform" rating to a "sector perform" rating in a research report on Friday, August 2nd. CIBC lowered their price target on Open Text from $36.00 to $33.00 and set a "neutral" rating on the stock in a report on Friday, July 19th. Citigroup lifted their price objective on shares of Open Text from $32.00 to $34.00 and gave the company a "neutral" rating in a research note on Wednesday, September 25th. Finally, Barclays decreased their target price on shares of Open Text from $38.00 to $36.00 and set an "equal weight" rating for the company in a research report on Monday, August 5th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Open Text has a consensus rating of "Hold" and an average target price of $38.80.

Open Text Trading Up 0.7 %

OTEX traded up $0.24 during trading on Friday, reaching $33.18. The company had a trading volume of 216,180 shares, compared to its average volume of 652,210. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.81 and a current ratio of 0.81. Open Text Co. has a 12-month low of $27.50 and a 12-month high of $45.47. The company has a market cap of $8.96 billion, a price-to-earnings ratio of 53.13 and a beta of 1.12. The firm's 50-day simple moving average is $31.74 and its 200 day simple moving average is $32.27.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last issued its quarterly earnings results on Thursday, August 1st. The software maker reported $0.98 EPS for the quarter, beating the consensus estimate of $0.93 by $0.05. Open Text had a net margin of 8.06% and a return on equity of 25.00%. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the prior year, the firm earned $0.79 EPS. The firm's quarterly revenue was down 8.6% on a year-over-year basis. Equities research analysts anticipate that Open Text Co. will post 3.23 earnings per share for the current year.

Open Text Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 30th were issued a dividend of $0.192 per share. The ex-dividend date was Friday, August 30th. This represents a $0.77 dividend on an annualized basis and a dividend yield of 2.31%. Open Text's dividend payout ratio is 169.35%.

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.