Plato Investment Management Ltd Invests $138,000 in Open Text Co. (NASDAQ:OTEX)

Plato Investment Management Ltd bought a new stake in shares of Open Text Co. (NASDAQ:OTEX) (TSE:OTC) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 4,873 shares of the software maker’s stock, valued at approximately $138,000.

Other institutional investors also recently bought and sold shares of the company. Toronto Dominion Bank lifted its holdings in shares of Open Text by 169.6% during the 3rd quarter. Toronto Dominion Bank now owns 576,105 shares of the software maker’s stock valued at $19,173,000 after purchasing an additional 362,422 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in Open Text by 1,290.4% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 336,790 shares of the software maker’s stock valued at $11,209,000 after buying an additional 312,567 shares in the last quarter. Access Investment Management LLC purchased a new stake in Open Text in the third quarter valued at about $6,509,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Open Text in the fourth quarter worth about $2,810,000. Finally, PDT Partners LLC purchased a new stake in shares of Open Text during the third quarter worth about $3,252,000. 70.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

OTEX has been the subject of several research analyst reports. UBS Group initiated coverage on shares of Open Text in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 price objective for the company. StockNews.com downgraded shares of Open Text from a “strong-buy” rating to a “buy” rating in a research note on Monday, January 27th. Citigroup upped their target price on Open Text from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Royal Bank of Canada lowered their price target on Open Text from $33.00 to $31.00 and set a “sector perform” rating for the company in a research report on Friday, February 7th. Finally, Barclays increased their price objective on Open Text from $34.00 to $36.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $35.18.

Open Text Stock Up 0.5 %

OTEX stock opened at $25.59 on Wednesday. Open Text Co. has a one year low of $25.07 and a one year high of $40.55. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.87 and a current ratio of 0.87. The firm’s fifty day moving average is $28.09 and its 200 day moving average is $30.24. The firm has a market cap of $6.76 billion, a PE ratio of 10.40 and a beta of 1.12.

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

Open Text Increases Dividend

The business 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 dividend of $0.2625 per share. 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 yield of 4.10%. Open Text’s dividend payout ratio is currently 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.