Value Partners Investments Inc. lowered its position in shares of Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 92.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 184,900 shares of the software maker's stock after selling 2,157,266 shares during the quarter. Open Text makes up about 0.2% of Value Partners Investments Inc.'s holdings, making the stock its 13th largest holding. Value Partners Investments Inc. owned 0.07% of Open Text worth $5,236,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Open Text during the 4th quarter worth approximately $93,216,000. Arrowstreet Capital Limited Partnership boosted its stake in Open Text by 75.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,994,675 shares of the software maker's stock worth $169,555,000 after buying an additional 2,586,549 shares during the last quarter. Brandes Investment Partners LP grew its holdings in Open Text by 29.2% in the 4th quarter. Brandes Investment Partners LP now owns 4,504,139 shares of the software maker's stock valued at $127,557,000 after buying an additional 1,017,065 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its stake in shares of Open Text by 84.3% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,297,772 shares of the software maker's stock worth $36,738,000 after acquiring an additional 593,447 shares during the last quarter. Finally, FIL Ltd raised its holdings in shares of Open Text by 27.9% during the 4th quarter. FIL Ltd now owns 2,381,553 shares of the software maker's stock worth $67,398,000 after acquiring an additional 519,004 shares during the period. 70.37% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on OTEX shares. StockNews.com lowered shares of Open Text from a "strong-buy" rating to a "buy" rating in a report on Monday, January 27th. TD Securities decreased their price target on Open Text from $38.00 to $35.00 and set a "buy" rating on the stock in a research note on Sunday, February 9th. Barclays raised their price objective on Open Text from $34.00 to $36.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. Royal Bank of Canada decreased their target price on shares of 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. Finally, Citigroup lifted their price target on shares of Open Text from $30.00 to $32.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $35.18.
Read Our Latest Stock Analysis on OTEX
Open Text Stock Down 0.2 %
Shares of NASDAQ OTEX traded down $0.06 during mid-day trading on Friday, hitting $25.51. The company had a trading volume of 574,103 shares, compared to its average volume of 815,408. The company has a market capitalization of $6.70 billion, a PE ratio of 10.37 and a beta of 1.13. The business's 50-day simple moving average is $26.00 and its 200 day simple moving average is $28.63. Open Text Co. has a 1-year low of $22.79 and a 1-year 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.
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, topping 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, analysts predict that Open Text Co. will post 3.45 earnings per share for the current year.
Open Text Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a $0.2625 dividend. This represents a $1.05 annualized dividend and a yield of 4.12%. The ex-dividend date was Friday, March 7th. This is a positive change from Open Text's previous quarterly dividend of $0.26. Open Text's dividend payout ratio is 42.68%.
Open Text Company Profile
(
Free Report)
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.
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