Mitsubishi UFJ Trust & Banking Corp Reduces Holdings in Open Text Corporation $OTEX

Mitsubishi UFJ Trust & Banking Corp lessened its position in shares of Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) by 60.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 93,300 shares of the software maker’s stock after selling 141,701 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Open Text were worth $3,002,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Pictet Asset Management Holding SA lifted its holdings in Open Text by 43.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 351,863 shares of the software maker’s stock worth $11,477,000 after purchasing an additional 106,836 shares in the last quarter. UBS Group AG lifted its holdings in Open Text by 61.3% during the 4th quarter. UBS Group AG now owns 662,567 shares of the software maker’s stock worth $21,586,000 after purchasing an additional 251,851 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in Open Text by 3.8% during the 4th quarter. Sanctuary Advisors LLC now owns 27,811 shares of the software maker’s stock worth $906,000 after purchasing an additional 1,009 shares in the last quarter. Munich Reinsurance Co Stock Corp in Munich lifted its holdings in Open Text by 59.0% during the 4th quarter. Munich Reinsurance Co Stock Corp in Munich now owns 427,564 shares of the software maker’s stock worth $14,121,000 after purchasing an additional 158,698 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. purchased a new stake in Open Text during the 4th quarter worth about $7,140,000. Hedge funds and other institutional investors own 70.37% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. TD Securities raised Open Text to a “hold” rating in a report on Monday, February 2nd. UBS Group set a $26.00 price objective on Open Text in a report on Friday, February 6th. Citigroup dropped their price objective on Open Text from $36.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, February 6th. Raymond James Financial dropped their price objective on Open Text from $48.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday, February 6th. Finally, Barclays dropped their price objective on Open Text from $30.00 to $25.00 and set an “equal weight” rating on the stock in a report on Monday, April 20th. Three research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $36.00.

Open Text Price Performance

Shares of NASDAQ OTEX opened at $23.20 on Monday. The firm has a market capitalization of $5.62 billion, a P/E ratio of 13.65 and a beta of 1.04. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.57. The stock’s 50-day simple moving average is $23.12 and its two-hundred day simple moving average is $29.08. Open Text Corporation has a twelve month low of $20.00 and a twelve month high of $39.90.

Open Text (NASDAQ:OTEX) (TSE:OTC) last announced its earnings results on Thursday, February 5th. The software maker reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.09. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.29 billion. Open Text had a return on equity of 23.60% and a net margin of 8.42%.The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.11 EPS. As a group, equities analysts anticipate that Open Text Corporation will post 3.98 EPS for the current fiscal year.

Open Text Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, March 6th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date was Friday, March 6th. Open Text’s dividend payout ratio is currently 64.71%.

About Open Text

Open Text Corporation is a Canadian enterprise information management (EIM) software company that develops solutions for organizations seeking to manage, protect and extract insight from their unstructured and structured data. The company’s platform encompasses document management, records management, digital asset management and archiving, enabling companies to govern information across its lifecycle.

Open Text’s product suite includes content services, business process management, customer experience management, analytics and security products.