Numerai GP LLC Reduces Holdings in Open Text Co. (NASDAQ:OTEX)

Numerai GP LLC reduced its position in Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 78.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 11,020 shares of the software maker’s stock after selling 40,352 shares during the period. Numerai GP LLC’s holdings in Open Text were worth $312,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in OTEX. IFP Advisors Inc increased its position in 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 buying an additional 515 shares during the period. Blue Trust Inc. increased its holdings in shares of Open Text by 40.8% in the 4th quarter. Blue Trust Inc. now owns 1,373 shares of the software maker’s stock valued at $39,000 after acquiring an additional 398 shares during the period. Aquatic Capital Management LLC acquired a new position in shares of Open Text in the 4th quarter valued at $60,000. Generali Asset Management SPA SGR purchased a new stake in Open Text in the 4th quarter valued at $62,000. Finally, Allworth Financial LP boosted its stake in Open Text by 20.7% during the 4th 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. 70.37% of the stock is owned by institutional investors and hedge funds.

Open Text Stock Up 0.4%

OTEX opened at $27.97 on Friday. The business has a 50 day simple moving average of $25.99 and a 200-day simple moving average of $27.77. Open Text Co. has a 12 month low of $22.79 and a 12 month high of $34.20. The stock has a market capitalization of $7.26 billion, a P/E ratio of 11.37 and a beta of 1.15. 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 issued its earnings results on Wednesday, April 30th. The software maker reported $0.82 EPS for the quarter, topping the consensus estimate of $0.81 by $0.01. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.28 billion. Open Text had a net margin of 12.21% and a return on equity of 23.23%. The business’s revenue was down 13.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.94 EPS. On average, equities analysts anticipate that Open Text Co. will post 3.45 earnings per share for the current fiscal year.

Open Text Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given a dividend of $0.2625 per share. The ex-dividend date is Friday, June 6th. This represents a $1.05 annualized dividend and a yield of 3.75%. Open Text’s payout ratio is currently 42.86%.

Analyst Ratings Changes

A number of research analysts have commented on OTEX shares. Royal Bank of Canada dropped their price objective on shares of Open Text from $31.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 22nd. TD Securities lowered their price target on Open Text from $38.00 to $35.00 and set a “buy” rating on the stock in a report on Sunday, February 9th. CIBC dropped their price target on Open Text from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Friday, May 2nd. National Bankshares reduced their price objective on Open Text from $38.00 to $34.00 and set a “sector perform” rating for the company in a research note on Friday, April 25th. Finally, UBS Group lowered their target price on Open Text from $32.00 to $28.00 and set a “neutral” rating on the stock in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $32.30.

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.