Natixis Advisors LLC Invests $1.47 Million in Open Text Co. (NASDAQ:OTEX)

Natixis Advisors LLC purchased a new stake in Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 44,091 shares of the software maker's stock, valued at approximately $1,467,000.

Several other institutional investors have also recently made changes to their positions in OTEX. Brandes Investment Partners LP increased its position in Open Text by 236.8% in the 2nd quarter. Brandes Investment Partners LP now owns 1,834,835 shares of the software maker's stock valued at $55,059,000 after buying an additional 1,290,011 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Open Text by 25.1% during the second quarter. The Manufacturers Life Insurance Company now owns 5,578,835 shares of the software maker's stock valued at $167,277,000 after acquiring an additional 1,118,479 shares in the last quarter. Cooke & Bieler LP raised its position in shares of Open Text by 18.6% during the second quarter. Cooke & Bieler LP now owns 5,536,769 shares of the software maker's stock worth $166,325,000 after purchasing an additional 867,978 shares during the period. JARISLOWSKY FRASER Ltd lifted its holdings in shares of Open Text by 5.1% in the 2nd quarter. JARISLOWSKY FRASER Ltd now owns 15,702,510 shares of the software maker's stock worth $471,415,000 after purchasing an additional 767,822 shares in the last quarter. Finally, National Bank of Canada FI grew its position in Open Text by 17.5% in the 2nd quarter. National Bank of Canada FI now owns 4,021,893 shares of the software maker's stock valued at $120,390,000 after purchasing an additional 599,790 shares during the period. Institutional investors and hedge funds own 70.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. BMO Capital Markets dropped their price objective on shares of Open Text from $33.00 to $32.00 and set a "market perform" rating on the stock in a research note on Friday, November 1st. National Bankshares lowered Open Text from an "outperform" rating to a "sector perform" rating and set a $38.00 price objective for the company. in a report on Friday, August 2nd. Scotiabank lowered their price objective on Open Text from $40.00 to $35.00 and set a "sector perform" rating for the company in a research note on Friday, November 1st. National Bank Financial cut Open Text from an "outperform" rating to a "sector perform" rating in a research report on Friday, August 2nd. Finally, TD Securities lowered their price target on Open Text from $40.00 to $38.00 and set a "buy" rating for the company in a research report on Friday, November 1st. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Open Text presently has a consensus rating of "Hold" and a consensus price target of $35.90.

Open Text Stock Performance

Shares of NASDAQ OTEX traded down $0.18 during mid-day trading on Tuesday, reaching $30.10. 298,973 shares of the company's stock were exchanged, compared to its average volume of 643,174. Open Text Co. has a 52 week low of $27.50 and a 52 week high of $45.47. The firm has a 50-day moving average price of $31.85 and a two-hundred day moving average price of $31.02. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.79 and a quick ratio of 0.79. The firm has a market capitalization of $8.00 billion, a price-to-earnings ratio of 17.50 and a beta of 1.13.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last posted its quarterly earnings data on Thursday, October 31st. The software maker reported $0.93 EPS for the quarter, beating the consensus estimate of $0.80 by $0.13. Open Text had a return on equity of 24.34% and a net margin of 8.35%. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the business earned $0.90 earnings per share. Open Text's revenue for the quarter was down 11.0% on a year-over-year basis. Analysts predict that Open Text Co. will post 3.37 EPS for the current year.

Open Text Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 29th will be issued a $0.262 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.05 annualized dividend and a yield of 3.48%. This is a positive change from Open Text's previous quarterly dividend of $0.19. Open Text's dividend payout ratio (DPR) is 60.69%.

Open Text 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.