O Shaughnessy Asset Management LLC Purchases 10,534 Shares of Open Text Co. (NASDAQ:OTEX)

O Shaughnessy Asset Management LLC increased its stake in Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 27.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 49,241 shares of the software maker's stock after purchasing an additional 10,534 shares during the quarter. O Shaughnessy Asset Management LLC's holdings in Open Text were worth $1,392,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. IFP Advisors Inc raised its holdings in Open Text by 103.8% during 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. raised its holdings in Open Text by 40.8% during the 4th quarter. Blue Trust Inc. now owns 1,373 shares of the software maker's stock valued at $39,000 after acquiring an additional 398 shares during the period. Generali Asset Management SPA SGR bought a new stake in Open Text during the 4th quarter valued at $62,000. Allworth Financial LP raised its holdings in Open Text by 20.7% during the 4th quarter. Allworth Financial LP now owns 2,564 shares of the software maker's stock valued at $73,000 after acquiring an additional 439 shares during the period. Finally, CIBC Private Wealth Group LLC bought a new stake in Open Text during the 4th quarter valued at $105,000. Institutional investors own 70.37% of the company's stock.

Open Text Price Performance

NASDAQ:OTEX traded down $1.03 during midday trading on Thursday, hitting $24.26. The company had a trading volume of 154,453 shares, compared to its average volume of 800,551. Open Text Co. has a 52-week low of $22.79 and a 52-week high of $36.72. The stock's fifty day moving average price is $26.52 and its 200-day moving average price is $28.98. The company has a market capitalization of $6.38 billion, a PE ratio of 9.93 and a beta of 1.13. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.50.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last posted its quarterly earnings results on Thursday, February 6th. The software maker reported $1.02 earnings per share (EPS) 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%. As a group, research analysts expect that Open Text Co. will post 3.45 earnings per share for the current year.

Open Text Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a dividend of $0.2625 per share. This represents a $1.05 annualized dividend and a yield of 4.33%. This is a positive change from Open Text's previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Friday, March 7th. Open Text's dividend payout ratio is presently 42.68%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Barclays boosted their target price on shares of Open Text from $34.00 to $36.00 and gave the company an "equal weight" rating in a report on Friday, February 7th. UBS Group assumed coverage on shares of Open Text in a research report on Tuesday, December 17th. They set a "neutral" rating and a $32.00 price target for the company. TD Securities reduced their price target on shares of Open Text from $38.00 to $35.00 and set a "buy" rating for the company in a research report on Sunday, February 9th. Royal Bank of Canada reduced their price target 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, StockNews.com lowered shares of Open Text from a "strong-buy" rating to a "buy" rating in a research report on Monday, January 27th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus 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.