UniSuper Management Pty Ltd Cuts Stock Position in Open Text Co. (NASDAQ:OTEX)

UniSuper Management Pty Ltd lessened its position in shares of Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 64.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,100 shares of the software maker’s stock after selling 9,348 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Open Text were worth $144,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its holdings in shares of Open Text by 3.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,093 shares of the software maker’s stock valued at $369,000 after purchasing an additional 351 shares during the last quarter. Blue Trust Inc. raised its stake in Open Text by 40.8% in the fourth quarter. Blue Trust Inc. now owns 1,373 shares of the software maker’s stock valued at $39,000 after buying an additional 398 shares during the last quarter. Allworth Financial LP boosted its holdings in Open Text by 20.7% in the fourth quarter. Allworth Financial LP now owns 2,564 shares of the software maker’s stock worth $73,000 after acquiring an additional 439 shares in the last quarter. IFP Advisors Inc grew its stake in shares of Open Text by 103.8% during 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 during the last quarter. Finally, DGS Capital Management LLC increased its holdings in shares of Open Text by 2.0% during the fourth quarter. DGS Capital Management LLC now owns 26,477 shares of the software maker’s stock valued at $750,000 after acquiring an additional 530 shares in the last quarter. Hedge funds and other institutional investors own 70.37% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on OTEX. Royal Bank of Canada dropped 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. UBS Group began coverage on shares of Open Text in a report on Tuesday, December 17th. They set a “neutral” rating and a $32.00 price objective on the stock. TD Securities lowered their price target on Open Text from $38.00 to $35.00 and set a “buy” rating for the company in a research report on Sunday, February 9th. Barclays increased their price objective on Open Text from $34.00 to $36.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Finally, StockNews.com downgraded Open Text from a “strong-buy” rating to a “buy” rating in a report on Monday, January 27th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $35.18.

Open Text Trading Down 0.1 %

Open Text stock opened at $25.26 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.50. The firm has a market cap of $6.64 billion, a PE ratio of 10.27 and a beta of 1.17. The stock’s 50 day simple moving average is $27.33 and its two-hundred day simple moving average is $29.44. Open Text Co. has a 12 month low of $24.61 and a 12 month high of $39.00.

Open Text (NASDAQ:OTEX) (TSE:OTC) last issued its quarterly earnings data on Thursday, February 6th. The software maker reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.10. Open Text had a net margin of 12.21% and a return on equity of 23.23%. Analysts anticipate 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. Stockholders of record on Friday, March 7th were paid a dividend of $0.2625 per share. This represents a $1.05 annualized dividend and a dividend yield of 4.16%. This is an increase 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%.

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.