Achmea Investment Management B.V. Has $5.68 Million Stock Position in Open Text Corporation $OTEX

Achmea Investment Management B.V. increased its holdings in shares of Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) by 351.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 152,028 shares of the software maker’s stock after purchasing an additional 118,336 shares during the period. Achmea Investment Management B.V.’s holdings in Open Text were worth $5,683,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of OTEX. Picton Mahoney Asset Management bought a new stake in Open Text in the 3rd quarter valued at $11,668,000. Cidel Asset Management Inc. boosted its position in Open Text by 4.5% during the third quarter. Cidel Asset Management Inc. now owns 973,317 shares of the software maker’s stock worth $36,389,000 after purchasing an additional 41,867 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Open Text by 456.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,312,755 shares of the software maker’s stock valued at $86,429,000 after purchasing an additional 1,896,755 shares during the last quarter. Arkadios Wealth Advisors raised its position in shares of Open Text by 596.6% in the third quarter. Arkadios Wealth Advisors now owns 83,192 shares of the software maker’s stock valued at $3,110,000 after purchasing an additional 71,249 shares during the period. Finally, Munich Reinsurance Co Stock Corp in Munich acquired a new stake in shares of Open Text during the 3rd quarter worth about $10,052,000. Institutional investors own 70.37% of the company’s stock.

Open Text Stock Down 0.4%

Shares of NASDAQ OTEX opened at $22.97 on Thursday. The stock has a market capitalization of $5.64 billion, a P/E ratio of 13.51 and a beta of 1.08. The stock’s fifty day moving average is $26.21 and its 200 day moving average is $32.22. Open Text Corporation has a 52 week low of $22.26 and a 52 week high of $39.90. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.94 and a current ratio of 0.94.

Open Text (NASDAQ:OTEX) (TSE:OTC) last posted its quarterly earnings data on Thursday, February 5th. The software maker reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.09. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Open Text had a net margin of 8.42% and a return on equity of 23.60%. Open Text’s revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.11 earnings per share. Sell-side analysts forecast that Open Text Corporation will post 3.45 earnings per share for the current fiscal year.

Open Text Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Friday, March 6th. Open Text’s dividend payout ratio (DPR) is 64.71%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on OTEX shares. UBS Group set a $26.00 target price on shares of Open Text in a report on Friday, February 6th. Citigroup lowered their price target on shares of Open Text from $36.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, February 6th. Raymond James Financial cut their price objective on shares of Open Text from $48.00 to $42.00 and set an “outperform” rating for the company in a research report on Friday, February 6th. Zacks Research cut Open Text from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Finally, TD Securities raised Open Text to a “hold” rating in a research report on Monday, February 2nd. Three equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $35.75.

About Open Text

Open Text Corporation is a Canadian enterprise information management (EIM) software company that develops solutions for organizations seeking to manage, protect and extract insight from their unstructured and structured data. The company’s platform encompasses document management, records management, digital asset management and archiving, enabling companies to govern information across its lifecycle.

Open Text’s product suite includes content services, business process management, customer experience management, analytics and security products.