Open Text Co. (NASDAQ:OTEX) Shares Acquired by DGS Capital Management LLC

DGS Capital Management LLC boosted its holdings in Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 2.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 26,477 shares of the software maker’s stock after buying an additional 530 shares during the quarter. DGS Capital Management LLC’s holdings in Open Text were worth $750,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Brandes Investment Partners LP increased its position in shares of Open Text by 236.8% in the second quarter. Brandes Investment Partners LP now owns 1,834,835 shares of the software maker’s stock worth $55,059,000 after acquiring an additional 1,290,011 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Open Text by 25.1% during the second quarter. The Manufacturers Life Insurance Company now owns 5,578,835 shares of the software maker’s stock valued at $167,277,000 after buying an additional 1,118,479 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of Open Text by 169.6% during the third quarter. Toronto Dominion Bank now owns 576,105 shares of the software maker’s stock valued at $19,173,000 after buying an additional 362,422 shares in the last quarter. Crossmark Global Holdings Inc. raised its position in Open Text by 1,290.4% during the third quarter. Crossmark Global Holdings Inc. now owns 336,790 shares of the software maker’s stock valued at $11,209,000 after buying an additional 312,567 shares during the period. Finally, AustralianSuper Pty Ltd purchased a new stake in Open Text in the 3rd quarter worth about $8,011,000. Institutional investors own 70.37% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on OTEX shares. TD Securities dropped their target price on Open Text from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, December 30th. Barclays decreased their target price on shares of Open Text from $36.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, November 1st. UBS Group started coverage on shares of Open Text in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 price target on the stock. Citigroup reduced their price objective on Open Text from $33.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, BMO Capital Markets dropped their target price on Open Text from $33.00 to $32.00 and set a “market perform” rating on the stock in a research report on Friday, November 1st. Nine research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Open Text presently has an average rating of “Hold” and an average price target of $35.27.

Open Text Trading Up 0.7 %

Shares of OTEX stock opened at $28.84 on Friday. Open Text Co. has a 12 month low of $26.84 and a 12 month high of $45.47. The company has a market cap of $7.61 billion, a PE ratio of 16.67 and a beta of 1.12. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.54. The business’s 50 day moving average is $28.91 and its two-hundred day moving average is $30.75.

Open Text (NASDAQ:OTEX) (TSE:OTC) last posted its earnings results on Thursday, October 31st. The software maker reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.13. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.28 billion. Open Text had a net margin of 8.35% and a return on equity of 24.34%. Open Text’s revenue was down 11.0% compared to the same quarter last year. During the same period last year, the business posted $0.90 EPS. Equities analysts predict that Open Text Co. will post 3.37 EPS for the current year.

Open Text Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, November 29th were given a dividend of $0.262 per share. This represents a $1.05 annualized dividend and a dividend yield of 3.63%. The ex-dividend date was Friday, November 29th. This is a boost from Open Text’s previous quarterly dividend of $0.19. Open Text’s payout ratio is currently 60.69%.

Open Text Company Profile

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.