Guardian Partners Inc. Makes New Investment in Open Text Co. (NASDAQ:OTEX)

Guardian Partners Inc. purchased a new position in Open Text Co. (NASDAQ:OTEX) (TSE:OTC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 185,772 shares of the software maker’s stock, valued at approximately $5,180,000. Guardian Partners Inc. owned approximately 0.07% of Open Text as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. IFP Advisors Inc boosted its holdings 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 acquiring an additional 515 shares in the last quarter. Blue Trust Inc. boosted its holdings in Open Text by 40.8% in the fourth quarter. Blue Trust Inc. now owns 1,373 shares of the software maker’s stock worth $39,000 after acquiring an additional 398 shares in the last quarter. Generali Asset Management SPA SGR acquired a new stake in shares of Open Text during the fourth quarter worth about $62,000. Allworth Financial LP lifted its holdings 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 purchasing an additional 439 shares during the period. Finally, Plato Investment Management Ltd acquired a new stake in shares of Open Text during the fourth quarter worth about $138,000. Institutional investors and hedge funds own 70.37% of the company’s stock.

Open Text Stock Down 0.0 %

Open Text stock opened at $26.38 on Friday. The stock has a market capitalization of $6.96 billion, a PE ratio of 10.72 and a beta of 1.17. Open Text Co. has a 12 month low of $24.86 and a 12 month high of $39.87. The business has a 50 day simple moving average of $27.51 and a 200-day simple moving average of $29.69. 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) (TSE:OTC) last posted 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, analysts anticipate that Open Text Co. will post 3.45 EPS for the current fiscal year.

Open Text Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.98%. Open Text’s payout ratio is 42.68%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Citigroup lifted their target price on Open Text from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. TD Securities decreased their target price on Open Text from $38.00 to $35.00 and set a “buy” rating for the company in a report on Sunday, February 9th. Royal Bank of Canada decreased their target price on Open Text from $33.00 to $31.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. StockNews.com downgraded Open Text from a “strong-buy” rating to a “buy” rating in a report on Monday, January 27th. Finally, UBS Group assumed coverage on Open Text in a report on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 price target for the company. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $35.18.

About Open Text

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.