Open Text Corporation $OTEX Shares Purchased by Alberta Investment Management Corp

Alberta Investment Management Corp increased its position in shares of Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) by 49.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 317,200 shares of the software maker’s stock after buying an additional 105,600 shares during the quarter. Alberta Investment Management Corp’s holdings in Open Text were worth $10,331,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OTEX. CIBC Private Wealth Group LLC purchased a new stake in Open Text in the 3rd quarter valued at $33,000. WealthCollab LLC increased its stake in Open Text by 39.5% in the second quarter. WealthCollab LLC now owns 1,640 shares of the software maker’s stock valued at $48,000 after purchasing an additional 464 shares during the period. Osaic Holdings Inc. increased its stake in Open Text by 108.8% in the second quarter. Osaic Holdings Inc. now owns 1,798 shares of the software maker’s stock valued at $52,000 after purchasing an additional 937 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Open Text by 39.7% in the second quarter. EverSource Wealth Advisors LLC now owns 2,005 shares of the software maker’s stock valued at $59,000 after buying an additional 570 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of Open Text by 55.5% during the fourth quarter. Barclays PLC now owns 1,854 shares of the software maker’s stock worth $60,000 after buying an additional 662 shares during the period. Hedge funds and other institutional investors own 70.37% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Citigroup lowered their price target on Open Text from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, May 8th. Royal Bank Of Canada decreased their price objective on Open Text from $30.00 to $27.00 and set a “sector perform” rating for the company in a research report on Friday, May 8th. UBS Group set a $25.00 target price on Open Text in a research note on Friday, May 8th. Wall Street Zen upgraded Open Text from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Finally, Scotia decreased their price target on Open Text from $50.00 to $40.00 and set a “sector outperform” rating for the company in a report on Friday, May 8th. Four equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Open Text currently has a consensus rating of “Hold” and an average target price of $33.67.

Open Text Trading Up 0.3%

Shares of Open Text stock opened at $22.13 on Wednesday. The firm has a market cap of $5.37 billion, a price-to-earnings ratio of 10.80 and a beta of 1.05. Open Text Corporation has a 52-week low of $20.00 and a 52-week high of $39.90. The company’s 50-day simple moving average is $22.93 and its 200-day simple moving average is $26.20. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.56.

Open Text (NASDAQ:OTEX) (TSE:OTC) last announced its quarterly earnings data on Thursday, May 7th. The software maker reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.07. Open Text had a net margin of 9.91% and a return on equity of 24.77%. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the firm earned $0.82 earnings per share. The firm’s revenue was up 2.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Open Text Corporation will post 4.05 earnings per share for the current year.

Open Text Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 19th. Stockholders of record on Friday, June 5th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Friday, June 5th. Open Text’s dividend payout ratio (DPR) is currently 53.66%.

Open Text Profile

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.