Juncture Wealth Strategies LLC Invests $728,000 in Open Text Co. (NASDAQ:OTEX)

Juncture Wealth Strategies LLC purchased a new stake in Open Text Co. (NASDAQ:OTEX) (TSE:OTC) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 21,883 shares of the software maker’s stock, valued at approximately $728,000.

Several other large investors have also recently added to or reduced their stakes in OTEX. Ridgewood Investments LLC acquired a new stake in Open Text in the 2nd quarter valued at $30,000. Headlands Technologies LLC acquired a new stake in Open Text in the 1st quarter valued at $32,000. Kimelman & Baird LLC acquired a new stake in Open Text in the 2nd quarter valued at $36,000. UniSuper Management Pty Ltd increased its holdings in Open Text by 105.3% in the 1st quarter. UniSuper Management Pty Ltd now owns 3,900 shares of the software maker’s stock valued at $151,000 after purchasing an additional 2,000 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Open Text by 27.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,692 shares of the software maker’s stock valued at $197,000 after purchasing an additional 1,023 shares in the last quarter. 70.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

OTEX has been the subject of several recent research reports. Barclays lowered their price target on Open Text from $38.00 to $36.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Jefferies Financial Group decreased their price objective on shares of Open Text from $42.00 to $35.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. National Bankshares cut shares of Open Text from an “outperform” rating to a “sector perform” rating and set a $38.00 price objective for the company. in a research report on Friday, August 2nd. BMO Capital Markets decreased their price objective on shares of Open Text from $38.00 to $33.00 and set a “market perform” rating for the company in a research report on Friday, August 2nd. Finally, Citigroup upped their price objective on shares of Open Text from $32.00 to $34.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $38.80.

Open Text Stock Performance

Shares of OTEX stock opened at $33.81 on Friday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.81 and a current ratio of 0.81. Open Text Co. has a one year low of $27.50 and a one year high of $45.47. The company’s 50-day simple moving average is $31.96 and its 200-day simple moving average is $32.08. The stock has a market capitalization of $9.13 billion, a price-to-earnings ratio of 54.53 and a beta of 1.12.

Open Text (NASDAQ:OTEX) (TSE:OTC) last issued its quarterly earnings results on Thursday, August 1st. The software maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.93 by $0.05. Open Text had a net margin of 8.06% and a return on equity of 25.00%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter last year, the company posted $0.79 earnings per share. The company’s quarterly revenue was down 8.6% compared to the same quarter last year. Equities analysts anticipate that Open Text Co. will post 3.23 earnings per share for the current fiscal year.

Open Text Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were paid a dividend of $0.192 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.77 annualized dividend and a yield of 2.27%. Open Text’s dividend payout ratio (DPR) is 169.35%.

Open Text 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.