JPMorgan Chase & Co. Has $42.84 Million Stock Holdings in Open Text Corporation $OTEX

JPMorgan Chase & Co. grew its position in Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) by 3.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,146,067 shares of the software maker’s stock after purchasing an additional 37,010 shares during the quarter. JPMorgan Chase & Co.’s holdings in Open Text were worth $42,840,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Tidal Investments LLC boosted its holdings in shares of Open Text by 2.6% during the 2nd quarter. Tidal Investments LLC now owns 18,059 shares of the software maker’s stock worth $527,000 after buying an additional 460 shares during the period. WealthCollab LLC raised its holdings in Open Text by 39.5% in the 2nd quarter. WealthCollab LLC now owns 1,640 shares of the software maker’s stock worth $48,000 after acquiring an additional 464 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, Access Investment Management LLC boosted its holdings in Open Text by 0.3% during the third quarter. Access Investment Management LLC now owns 199,835 shares of the software maker’s stock valued at $7,470,000 after acquiring an additional 590 shares during the period. 70.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. UBS Group set a $26.00 price objective on Open Text in a research note on Friday, February 6th. Barclays lowered their target price on Open Text from $39.00 to $30.00 and set an “equal weight” rating on the stock in a report on Friday, February 6th. Zacks Research downgraded Open Text from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. TD Securities upgraded Open Text to a “hold” rating in a report on Monday, February 2nd. Finally, Raymond James Financial lowered their price objective on shares of Open Text from $48.00 to $42.00 and set an “outperform” rating on the stock in a research note on Friday, February 6th. Three equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $35.75.

Open Text Stock Down 0.2%

Shares of OTEX opened at $22.57 on Friday. The stock has a market cap of $5.54 billion, a price-to-earnings ratio of 13.28 and a beta of 1.08. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.57. Open Text Corporation has a 12 month low of $21.91 and a 12 month high of $39.90. The company has a 50-day moving average price of $25.81 and a two-hundred day moving average price of $32.07.

Open Text (NASDAQ:OTEX) (TSE:OTC) last released its quarterly earnings data on Thursday, February 5th. The software maker reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.09. Open Text had a return on equity of 23.60% and a net margin of 8.42%.The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the business earned $1.11 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. Equities analysts predict that Open Text Corporation will post 3.45 EPS for the current fiscal year.

Open Text Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, March 6th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date was Friday, March 6th. Open Text’s dividend payout ratio is 64.71%.

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.