Moloney Securities Asset Management LLC Trims Holdings in Open Text Co. (NASDAQ:OTEX)

Moloney Securities Asset Management LLC cut its position in Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 79.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,445 shares of the software maker’s stock after selling 63,983 shares during the period. Moloney Securities Asset Management LLC’s holdings in Open Text were worth $466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB boosted its stake in Open Text by 15.2% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 17,253 shares of the software maker’s stock worth $489,000 after purchasing an additional 2,270 shares during the period. Vest Financial LLC bought a new stake in Open Text in the 4th quarter valued at $267,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Open Text in the 4th quarter worth $2,810,000. Choreo LLC purchased a new position in shares of Open Text during the fourth quarter valued at about $564,000. Finally, Blue Trust Inc. increased its holdings in shares of Open Text by 40.8% in the fourth quarter. Blue Trust Inc. now owns 1,373 shares of the software maker’s stock worth $39,000 after purchasing an additional 398 shares during the last quarter. 70.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

OTEX has been the subject of several research analyst reports. Barclays raised their price target on Open Text from $34.00 to $36.00 and gave the company an “equal weight” rating in a report on Friday. Citigroup boosted their price target on shares of Open Text from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday. UBS Group started coverage on shares of Open Text in a research report on Tuesday, December 17th. They set a “neutral” rating and a $32.00 price objective for the company. StockNews.com cut shares of Open Text from a “strong-buy” rating to a “buy” rating in a research note on Monday, January 27th. Finally, TD Securities decreased their target price on shares of Open Text from $38.00 to $35.00 and set a “buy” rating on the stock in a research report on Sunday. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $35.18.

Open Text Stock Up 3.7 %

Shares of NASDAQ OTEX opened at $28.89 on Tuesday. The company has a market cap of $7.62 billion, a P/E ratio of 11.74 and a beta of 1.12. The firm has a 50-day simple moving average of $28.85 and a two-hundred day simple moving average of $30.61. Open Text Co. has a 1 year low of $26.84 and a 1 year high of $41.96. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.79 and a quick ratio of 0.79.

Open Text (NASDAQ:OTEX) (TSE:OTC) last posted its quarterly earnings data on Thursday, February 6th. The software maker reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.10. Open Text had a return on equity of 23.33% and a net margin of 12.21%. Research analysts anticipate that Open Text Co. will post 3.37 earnings per share for the current year.

Open Text Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be issued a $0.2625 dividend. The ex-dividend date is Friday, March 7th. This is a boost from Open Text’s previous quarterly dividend of $0.26. This represents a $1.05 dividend on an annualized basis and a dividend yield of 3.63%. Open Text’s dividend payout ratio is presently 42.68%.

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.