AustralianSuper Pty Ltd Acquires 57,363 Shares of Open Text Co. (NASDAQ:OTEX)

AustralianSuper Pty Ltd boosted its holdings in shares of Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 23.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 298,046 shares of the software maker’s stock after purchasing an additional 57,363 shares during the quarter. AustralianSuper Pty Ltd owned about 0.11% of Open Text worth $8,424,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its stake in Open Text by 1.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,642,455 shares of the software maker’s stock valued at $187,952,000 after purchasing an additional 63,620 shares during the period. Natixis Advisors LLC acquired a new position in Open Text in the 3rd quarter valued at approximately $1,467,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Open Text by 126.1% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 86,260 shares of the software maker’s stock valued at $2,871,000 after acquiring an additional 48,111 shares in the last quarter. Stifel Financial Corp acquired a new position in Open Text in the 3rd quarter valued at approximately $2,232,000. Finally, Access Investment Management LLC acquired a new position in Open Text in the 3rd quarter valued at approximately $6,509,000. Institutional investors own 70.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on OTEX shares. Citigroup upped their price target on Open Text from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Royal Bank of Canada cut their price target on Open Text from $33.00 to $31.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Barclays upped 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, February 7th. TD Securities dropped their target price on Open Text from $38.00 to $35.00 and set a “buy” rating for the company in a report on Sunday, February 9th. Finally, BMO Capital Markets dropped their target price on Open Text from $33.00 to $32.00 and set a “market perform” rating for the company in a report on Friday, November 1st. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $35.18.

Open Text Trading Down 1.1 %

OTEX stock opened at $28.41 on Friday. The business has a fifty day moving average price of $28.66 and a 200 day moving average price of $30.55. Open Text Co. has a fifty-two week low of $26.84 and a fifty-two week high of $40.69. The stock has a market capitalization of $7.49 billion, a price-to-earnings ratio of 11.55 and a beta of 1.12. 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 released its quarterly earnings results on Thursday, February 6th. The software maker reported $1.02 earnings per share 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%. Analysts expect that Open Text Co. will post 3.37 EPS for the current fiscal year.

Open Text Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be given a $0.2625 dividend. This represents a $1.05 dividend on an annualized basis and a yield of 3.70%. This is a positive change from Open Text’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Friday, March 7th. Open Text’s dividend payout ratio (DPR) is presently 42.68%.

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.