Mufg Securities Canada LTD. Grows Position in Open Text Co. (NASDAQ:OTEX)

Mufg Securities Canada LTD. lifted its holdings in shares of Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 70.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 406,007 shares of the software maker's stock after acquiring an additional 167,973 shares during the period. Mufg Securities Canada LTD. owned 0.15% of Open Text worth $11,482,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. IFP Advisors Inc raised its stake in shares of Open Text by 103.8% during the fourth quarter. IFP Advisors Inc now owns 1,011 shares of the software maker's stock worth $29,000 after purchasing an additional 515 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Open Text by 40.8% in the 4th quarter. Blue Trust Inc. now owns 1,373 shares of the software maker's stock worth $39,000 after acquiring an additional 398 shares during the period. Generali Asset Management SPA SGR purchased a new stake in shares of Open Text in the fourth quarter valued at about $62,000. Allworth Financial LP increased its stake in shares of Open Text by 20.7% during the fourth quarter. Allworth Financial LP now owns 2,564 shares of the software maker's stock worth $73,000 after acquiring an additional 439 shares during the period. Finally, Plato Investment Management Ltd purchased a new position in Open Text during the fourth quarter worth about $138,000. 70.37% of the stock is owned by institutional investors and hedge funds.

Open Text Trading Down 4.5 %

OTEX stock traded down $1.20 during midday trading on Friday, hitting $25.29. The stock had a trading volume of 1,018,281 shares, compared to its average volume of 769,874. The company's 50-day moving average price is $27.38 and its 200 day moving average price is $29.51. 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 firm has a market cap of $6.65 billion, a PE ratio of 10.28 and a beta of 1.17. Open Text Co. has a 12-month low of $24.86 and a 12-month high of $39.00.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last announced 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%. On average, equities research analysts predict that Open Text Co. will post 3.45 earnings per share for the current fiscal year.

Open Text Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a $0.2625 dividend. The ex-dividend date of this dividend was Friday, March 7th. This is a boost from Open Text's previous quarterly dividend of $0.26. This represents a $1.05 annualized dividend and a dividend yield of 4.15%. Open Text's dividend payout ratio (DPR) is currently 42.68%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Royal Bank of Canada dropped their target price on Open Text from $33.00 to $31.00 and set a "sector perform" rating on the stock in a research report on Friday, February 7th. TD Securities dropped their price objective on Open Text from $38.00 to $35.00 and set a "buy" rating on the stock in a report on Sunday, February 9th. Barclays boosted their target price 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. Citigroup increased their price target on shares of Open Text from $30.00 to $32.00 and gave the company a "neutral" rating in a report on Friday, February 7th. Finally, UBS Group began coverage on shares of Open Text in a research report on Tuesday, December 17th. They set a "neutral" rating and a $32.00 target price on the stock. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $35.18.

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.