Neuberger Berman Group LLC Boosts Stake in Open Text Co. (NASDAQ:OTEX)

Neuberger Berman Group LLC grew its holdings in Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 105.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 285,017 shares of the software maker's stock after acquiring an additional 146,512 shares during the quarter. Neuberger Berman Group LLC owned 0.11% of Open Text worth $8,062,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. IFP Advisors Inc grew its position in shares of Open Text by 103.8% in the 4th quarter. IFP Advisors Inc now owns 1,011 shares of the software maker's stock valued at $29,000 after acquiring an additional 515 shares during the period. Blue Trust Inc. grew its position in shares of Open Text by 40.8% during the 4th quarter. Blue Trust Inc. now owns 1,373 shares of the software maker's stock worth $39,000 after purchasing an additional 398 shares in the last quarter. Generali Asset Management SPA SGR acquired a new position in Open Text in the fourth quarter valued at about $62,000. Allworth Financial LP raised its holdings in shares of Open Text by 20.7% during the 4th quarter. Allworth Financial LP now owns 2,564 shares of the software maker's stock worth $73,000 after buying an additional 439 shares in the last quarter. Finally, CIBC Private Wealth Group LLC acquired a new stake in Open Text in the fourth quarter valued at approximately $105,000. Institutional investors own 70.37% of the company's stock.

Analysts Set New Price Targets

OTEX has been the topic of a number of recent analyst reports. UBS Group initiated coverage on Open Text in a research note on Tuesday, December 17th. They issued a "neutral" rating and a $32.00 price objective on the stock. StockNews.com cut Open Text from a "strong-buy" rating to a "buy" rating in a research report on Monday, January 27th. Citigroup boosted their price objective on Open Text from $30.00 to $32.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. Royal Bank of Canada cut their price objective on shares of Open Text from $33.00 to $31.00 and set a "sector perform" rating for the company in a research report on Friday, February 7th. Finally, TD Securities dropped their price objective 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. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $35.18.

Open Text Price Performance

OTEX stock traded down $0.03 during mid-day trading on Wednesday, reaching $25.58. 305,280 shares of the company's stock were exchanged, compared to its average volume of 808,566. Open Text Co. has a 12-month low of $22.79 and a 12-month high of $36.39. 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 stock's 50 day moving average is $26.17 and its 200 day moving average is $28.76. The company has a market cap of $6.72 billion, a price-to-earnings ratio of 10.40 and a beta of 1.13.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last posted its earnings results on Thursday, February 6th. The software maker reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.10. Open Text had a net margin of 12.21% and a return on equity of 23.23%. On average, research analysts expect that Open Text Co. will post 3.45 EPS for the current year.

Open Text Increases Dividend

The firm 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 was Friday, March 7th. This represents a $1.05 dividend on an annualized basis and a yield of 4.10%. This is a boost from Open Text's previous quarterly dividend of $0.26. Open Text's dividend payout ratio is currently 42.68%.

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.