Sei Investments Co. Boosts Stake in Open Text Co. (NASDAQ:OTEX)

Sei Investments Co. lifted its holdings in Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 7.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 238,629 shares of the software maker's stock after buying an additional 16,540 shares during the period. Sei Investments Co. owned approximately 0.09% of Open Text worth $6,758,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of OTEX. IFP Advisors Inc boosted its position in Open Text by 103.8% in 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. raised its stake 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 during the period. Generali Asset Management SPA SGR purchased a new position in shares of Open Text in the 4th quarter worth about $62,000. Allworth Financial LP grew its position in Open Text by 20.7% during the fourth quarter. Allworth Financial LP now owns 2,564 shares of the software maker's stock valued at $73,000 after buying an additional 439 shares during the period. Finally, Plato Investment Management Ltd purchased a new stake in Open Text during the fourth quarter worth about $138,000. 70.37% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on OTEX. Barclays upped their price objective on Open Text from $34.00 to $36.00 and gave the company an "equal weight" rating in a research note on Friday, February 7th. TD Securities dropped their price target on Open Text from $38.00 to $35.00 and set a "buy" rating on the stock in a research report on Sunday, February 9th. UBS Group initiated coverage on Open Text in a report on Tuesday, December 17th. They issued a "neutral" rating and a $32.00 price objective for the company. Citigroup upped their price objective 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, StockNews.com downgraded shares of Open Text from a "strong-buy" rating to a "buy" rating in a research note on Monday, January 27th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $35.18.

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Open Text Price Performance

Shares of OTEX stock traded down $0.72 during trading hours on Friday, reaching $24.13. The stock had a trading volume of 2,218,885 shares, compared to its average volume of 787,592. The stock's fifty day simple moving average is $27.05 and its 200 day simple moving average is $29.26. The firm has a market capitalization of $6.34 billion, a PE ratio of 9.81 and a beta of 1.17. Open Text Co. has a 12 month low of $23.43 and a 12 month high of $37.77. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.50.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last announced its quarterly earnings results on Thursday, February 6th. The software maker reported $1.02 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%. On average, equities research analysts predict that Open Text Co. will post 3.45 EPS for the current year.

Open Text Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid a $0.2625 dividend. This is a positive change from Open Text's previous quarterly dividend of $0.26. This represents a $1.05 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date of this dividend was Friday, March 7th. Open Text's dividend payout ratio is currently 42.68%.

Open Text Company 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.