Open Text Co. (NASDAQ:OTEX) Stock Holdings Lessened by Signaturefd LLC

Signaturefd LLC cut its stake in shares of Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 3.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,948 shares of the software maker’s stock after selling 754 shares during the period. Signaturefd LLC’s holdings in Open Text were worth $796,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in OTEX. Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Open Text during the 3rd quarter valued at $49,856,000. Legal & General Group Plc grew its stake in Open Text by 48.4% in the third quarter. Legal & General Group Plc now owns 1,606,093 shares of the software maker’s stock valued at $56,627,000 after purchasing an additional 524,009 shares in the last quarter. Value Partners Investments Inc. increased its position in Open Text by 16.3% in the 4th quarter. Value Partners Investments Inc. now owns 2,046,243 shares of the software maker’s stock worth $85,983,000 after purchasing an additional 286,766 shares during the last quarter. Intact Investment Management Inc. increased its position in Open Text by 22.4% in the 3rd quarter. Intact Investment Management Inc. now owns 1,314,880 shares of the software maker’s stock worth $46,146,000 after purchasing an additional 240,550 shares during the last quarter. Finally, Cooke & Bieler LP raised its stake in shares of Open Text by 4.2% during the 4th quarter. Cooke & Bieler LP now owns 4,767,848 shares of the software maker’s stock worth $200,345,000 after purchasing an additional 191,292 shares in the last quarter. Institutional investors and hedge funds own 70.37% of the company’s stock.

Open Text Stock Performance

OTEX opened at $35.45 on Tuesday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 2.10. The stock’s 50 day moving average price is $38.10 and its two-hundred day moving average price is $38.76. The firm has a market capitalization of $9.66 billion, a P/E ratio of 75.43 and a beta of 1.09. Open Text Co. has a 12-month low of $32.04 and a 12-month high of $45.47.

Open Text (NASDAQ:OTEX) (TSE:OTC) last announced its earnings results on Thursday, February 1st. The software maker reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.01. Open Text had a net margin of 2.24% and a return on equity of 22.99%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.48 billion. On average, equities analysts forecast that Open Text Co. will post 4.14 earnings per share for the current year.

Open Text Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Friday, March 1st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend was Thursday, February 29th. Open Text’s dividend payout ratio is currently 212.77%.

Analyst Ratings Changes

A number of research firms recently commented on OTEX. Citigroup dropped their price objective on Open Text from $44.00 to $42.00 and set a “neutral” rating on the stock in a report on Friday, March 22nd. CIBC raised their price target on shares of Open Text from $42.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, January 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $53.00 price objective on shares of Open Text in a report on Friday, February 2nd. TD Securities raised their target price on Open Text from $53.00 to $54.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Jefferies Financial Group assumed coverage on Open Text in a research note on Tuesday, February 27th. They set a “buy” rating and a $45.00 price target for the company. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $46.25.

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.