Andra AP fonden Purchases 30,600 Shares of Open Text Corporation $OTEX

Andra AP fonden raised its holdings in shares of Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) by 546.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,200 shares of the software maker’s stock after buying an additional 30,600 shares during the period. Andra AP fonden’s holdings in Open Text were worth $805,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. CIBC Private Wealth Group LLC bought a new position in Open Text in the 3rd quarter valued at $33,000. WealthCollab LLC grew its holdings in Open Text by 39.5% during 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 in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of Open Text by 5,096.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,611 shares of the software maker’s stock worth $52,000 after purchasing an additional 1,580 shares during the last quarter. Osaic Holdings Inc. raised its stake in shares of Open Text by 108.8% during the 2nd quarter. Osaic Holdings Inc. now owns 1,798 shares of the software maker’s stock worth $52,000 after acquiring an additional 937 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Open Text by 39.7% in the second 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 in the last quarter. Hedge funds and other institutional investors own 70.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on OTEX shares. Scotiabank reduced their target price on shares of Open Text from $50.00 to $40.00 and set a “sector outperform” rating for the company in a report on Friday, May 8th. Royal Bank Of Canada lowered their target price on shares of Open Text from $30.00 to $27.00 and set a “sector perform” rating on the stock in a research note on Friday, May 8th. Scotia lowered their price target on shares of Open Text from $50.00 to $40.00 and set a “sector outperform” rating on the stock in a research report on Friday, May 8th. UBS Group set a $25.00 price objective on shares of Open Text in a report on Friday, May 8th. Finally, Raymond James Financial dropped their price target on shares of Open Text from $42.00 to $35.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Open Text has a consensus rating of “Hold” and an average price target of $33.67.

Open Text Price Performance

Shares of OTEX opened at $21.52 on Friday. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.94 and a quick ratio of 0.94. Open Text Corporation has a 1-year low of $19.77 and a 1-year high of $39.90. The stock has a market cap of $5.21 billion, a PE ratio of 10.50 and a beta of 1.04. The firm has a fifty day moving average price of $22.65 and a 200 day moving average price of $24.10.

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

Open Text Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, June 5th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend was Friday, June 5th. Open Text’s payout ratio is presently 53.66%.

Open Text Company 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.