Signaturefd LLC Sells 3,560 Shares of Open Text Co. (NASDAQ:OTEX)

Signaturefd LLC lowered its holdings in shares of Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 21.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,073 shares of the software maker’s stock after selling 3,560 shares during the period. Signaturefd LLC’s holdings in Open Text were worth $370,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of OTEX. Brandes Investment Partners LP boosted its stake in Open Text by 29.2% during the fourth quarter. Brandes Investment Partners LP now owns 4,504,139 shares of the software maker’s stock worth $127,557,000 after acquiring an additional 1,017,065 shares in the last quarter. Cooke & Bieler LP boosted its stake in Open Text by 6.6% during the fourth quarter. Cooke & Bieler LP now owns 6,308,967 shares of the software maker’s stock worth $178,670,000 after acquiring an additional 389,220 shares in the last quarter. Toronto Dominion Bank boosted its stake in Open Text by 169.6% during the third quarter. Toronto Dominion Bank now owns 576,105 shares of the software maker’s stock worth $19,173,000 after acquiring an additional 362,422 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Open Text during the fourth quarter worth about $8,685,000. Finally, Andra AP fonden boosted its stake in Open Text by 386.5% during the fourth quarter. Andra AP fonden now owns 267,600 shares of the software maker’s stock worth $7,578,000 after acquiring an additional 212,600 shares in the last quarter. Institutional investors own 70.37% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on OTEX shares. UBS Group started coverage on shares of Open Text in a report on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 target price for the company. StockNews.com cut shares of Open Text from a “strong-buy” rating to a “buy” rating in a report on Monday, January 27th. Citigroup lifted their target price on shares of Open Text from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Royal Bank of Canada decreased their target price on shares of Open Text from $33.00 to $31.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Finally, TD Securities decreased their target price on shares of Open Text from $38.00 to $35.00 and set a “buy” rating for the company in a report on Sunday, February 9th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Open Text presently has a consensus rating of “Hold” and a consensus price target of $35.18.

Open Text Stock Up 0.3 %

Shares of OTEX stock opened at $26.39 on Friday. Open Text Co. has a 12 month low of $24.86 and a 12 month high of $40.55. The stock has a market cap of $6.97 billion, a P/E ratio of 10.73 and a beta of 1.17. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.50. The company has a 50 day simple moving average of $27.53 and a two-hundred day simple moving average of $29.74.

Open Text (NASDAQ:OTEX) (TSE:OTC) last announced its earnings results on Thursday, February 6th. The software maker reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.10. Open Text had a net margin of 12.21% and a return on equity of 23.23%. On average, research analysts expect that Open Text Co. will post 3.45 earnings per share for the current year.

Open Text Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.2625 per share. 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 yield of 3.98%. The ex-dividend date is Friday, March 7th. Open Text’s dividend payout ratio is currently 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.