First Trust Advisors LP Has $205.93 Million Stake in Open Text Co. (NASDAQ:OTEX)

First Trust Advisors LP raised its stake in shares of Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 9.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,275,908 shares of the software maker’s stock after acquiring an additional 632,437 shares during the quarter. First Trust Advisors LP owned approximately 2.76% of Open Text worth $205,925,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Cooke & Bieler LP grew its stake in Open Text by 6.6% during the fourth quarter. Cooke & Bieler LP now owns 6,308,967 shares of the software maker’s stock worth $178,670,000 after buying an additional 389,220 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Open Text by 75.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,994,675 shares of the software maker’s stock valued at $169,555,000 after purchasing an additional 2,586,549 shares in the last quarter. Brandes Investment Partners LP boosted its stake in Open Text by 29.2% in the fourth quarter. Brandes Investment Partners LP now owns 4,504,139 shares of the software maker’s stock worth $127,557,000 after purchasing an additional 1,017,065 shares in the last quarter. Norges Bank bought a new stake in shares of Open Text during the fourth quarter worth $93,216,000. Finally, FIL Ltd raised its holdings in shares of Open Text by 27.9% in the fourth quarter. FIL Ltd now owns 2,381,553 shares of the software maker’s stock valued at $67,398,000 after buying an additional 519,004 shares during the last quarter. Institutional investors and hedge funds own 70.37% of the company’s stock.

Open Text Stock Down 0.2 %

Shares of NASDAQ OTEX opened at $25.51 on Friday. The firm has a 50 day moving average price of $26.00 and a 200 day moving average price of $28.61. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market cap of $6.70 billion, a P/E ratio of 10.37 and a beta of 1.13. Open Text Co. has a 52-week low of $22.79 and a 52-week high of $36.39.

Open Text (NASDAQ:OTEX) (TSE:OTC) last released 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 net margin of 12.21% and a return on equity of 23.23%. Analysts expect that Open Text Co. will post 3.45 EPS for the current 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 issued a dividend of $0.2625 per share. This represents a $1.05 annualized dividend and a dividend yield of 4.12%. 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. Open Text’s payout ratio is 42.68%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on OTEX. StockNews.com lowered shares of Open Text from a “strong-buy” rating to a “buy” rating in a research report on Monday, January 27th. TD Securities decreased their price objective 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. Barclays boosted their target price 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. Citigroup raised their price target on Open Text from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Finally, Royal Bank of Canada dropped their price objective 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. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $35.18.

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.