Axa S.A. Buys 415,188 Shares of Open Text Corporation $OTEX

Axa S.A. boosted its stake in shares of Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) by 131.6% in the second quarter, Holdings Channel reports. The firm owned 730,661 shares of the software maker’s stock after acquiring an additional 415,188 shares during the period. Axa S.A.’s holdings in Open Text were worth $21,335,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Cromwell Holdings LLC lifted its stake in shares of Open Text by 27.4% in the second quarter. Cromwell Holdings LLC now owns 1,635 shares of the software maker’s stock worth $48,000 after buying an additional 352 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Open Text by 2.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 13,174 shares of the software maker’s stock worth $385,000 after acquiring an additional 370 shares during the period. EverSource Wealth Advisors LLC lifted its position in Open Text by 39.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,005 shares of the software maker’s stock worth $59,000 after acquiring an additional 570 shares during the last quarter. MAI Capital Management boosted its holdings in Open Text by 58.7% during the second quarter. MAI Capital Management now owns 1,595 shares of the software maker’s stock valued at $47,000 after acquiring an additional 590 shares during the period. Finally, Vident Advisory LLC grew its position in shares of Open Text by 6.6% in the first quarter. Vident Advisory LLC now owns 11,681 shares of the software maker’s stock valued at $295,000 after purchasing an additional 722 shares during the last quarter. Institutional investors own 70.37% of the company’s stock.

Open Text Trading Up 0.7%

Shares of Open Text stock opened at $33.53 on Thursday. Open Text Corporation has a 1 year low of $22.79 and a 1 year high of $39.90. The company has a market capitalization of $8.45 billion, a price-to-earnings ratio of 17.56 and a beta of 1.08. The business has a fifty day simple moving average of $36.22 and a two-hundred day simple moving average of $32.87. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.87 and a quick ratio of 0.87.

Open Text (NASDAQ:OTEX) (TSE:OTC) last announced its quarterly earnings results on Wednesday, November 5th. The software maker reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.05. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.27 billion. Open Text had a net margin of 9.60% and a return on equity of 23.44%. Open Text’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.93 EPS. Research analysts forecast that Open Text Corporation will post 3.45 EPS for the current year.

Open Text Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Friday, December 5th. Open Text’s dividend payout ratio is currently 57.59%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on OTEX shares. Jefferies Financial Group boosted their price objective on Open Text from $33.00 to $35.00 and gave the stock a “hold” rating in a research report on Thursday, November 6th. Scotiabank upgraded Open Text from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $35.00 to $50.00 in a research report on Wednesday, September 24th. National Bankshares set a $45.00 price target on Open Text and gave the company an “outperform” rating in a research note on Thursday, October 23rd. Citigroup boosted their target price on Open Text from $31.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Finally, CIBC raised their target price on shares of Open Text from $34.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Open Text presently has an average rating of “Hold” and an average price target of $39.42.

About Open Text

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.