Jupiter Asset Management Ltd. Purchases New Shares in Open Text Corporation $OTEX

Jupiter Asset Management Ltd. purchased a new stake in shares of Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) during the fourth quarter, Holdings Channel.com reports. The fund purchased 60,523 shares of the software maker’s stock, valued at approximately $1,974,000.

A number of other large investors also recently made changes to their positions in the company. Tidal Investments LLC lifted its position in shares of Open Text by 2.6% during the second quarter. Tidal Investments LLC now owns 18,059 shares of the software maker’s stock valued at $527,000 after purchasing an additional 460 shares in the last quarter. WealthCollab LLC lifted its position in shares of Open Text by 39.5% during the second quarter. WealthCollab LLC now owns 1,640 shares of the software maker’s stock valued at $48,000 after purchasing an additional 464 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Open Text by 39.7% during the second quarter. EverSource Wealth Advisors LLC now owns 2,005 shares of the software maker’s stock valued at $59,000 after purchasing an additional 570 shares in the last quarter. Access Investment Management LLC lifted its position in shares of Open Text by 0.3% during the third quarter. Access Investment Management LLC now owns 199,835 shares of the software maker’s stock valued at $7,470,000 after purchasing an additional 590 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its position in shares of Open Text by 1.0% during the second quarter. Lazard Asset Management LLC now owns 66,512 shares of the software maker’s stock valued at $1,942,000 after purchasing an additional 655 shares in the last quarter. 70.37% of the stock is owned by institutional investors.

Open Text Stock Performance

NASDAQ OTEX opened at $23.84 on Friday. Open Text Corporation has a 52-week low of $20.00 and a 52-week high of $39.90. The company has a 50-day simple moving average of $22.78 and a 200 day simple moving average of $27.16. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market capitalization of $5.79 billion, a PE ratio of 11.63 and a beta of 1.04.

Open Text (NASDAQ:OTEX) (TSE:OTC) last posted its quarterly earnings data on Thursday, May 7th. The software maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.07. Open Text had a net margin of 9.91% and a return on equity of 24.77%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the company posted $0.82 earnings per share. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, research analysts predict that Open Text Corporation will post 4.05 EPS for the current year.

Open Text Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 19th. Investors of record on Friday, June 5th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Friday, June 5th. Open Text’s dividend payout ratio (DPR) is 53.66%.

Analyst Ratings Changes

A number of research firms recently weighed in on OTEX. TD Securities raised shares of Open Text to a “hold” rating in a research report on Monday, February 2nd. Wall Street Zen raised shares of Open Text from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Citigroup dropped their price target on shares of Open Text from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, May 8th. National Bank Financial dropped their price target on shares of Open Text from $45.00 to $33.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Scotiabank dropped their price target on shares of Open Text from $50.00 to $40.00 and set a “sector outperform” rating on the stock in a research report on Friday, May 8th. Four equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, Open Text has a consensus rating of “Hold” and a consensus target price of $33.67.

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.