Bristol Gate Capital Partners Inc. Has $1.01 Million Stock Holdings in Open Text Co. (NASDAQ:OTEX)

Bristol Gate Capital Partners Inc. boosted its stake in shares of Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 7.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,667 shares of the software maker’s stock after acquiring an additional 2,503 shares during the quarter. Bristol Gate Capital Partners Inc.’s holdings in Open Text were worth $1,009,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in OTEX. IFP Advisors Inc boosted its stake in Open Text by 103.8% in the fourth quarter. IFP Advisors Inc now owns 1,011 shares of the software maker’s stock worth $29,000 after purchasing an additional 515 shares in the last quarter. Blue Trust Inc. lifted its position in Open Text by 40.8% during the 4th quarter. Blue Trust Inc. now owns 1,373 shares of the software maker’s stock worth $39,000 after buying an additional 398 shares in the last quarter. Generali Asset Management SPA SGR acquired a new stake in Open Text in the 4th quarter valued at about $62,000. Allworth Financial LP raised its stake in shares of Open Text by 20.7% in the fourth quarter. Allworth Financial LP now owns 2,564 shares of the software maker’s stock worth $73,000 after acquiring an additional 439 shares during the last quarter. Finally, CIBC Private Wealth Group LLC acquired a new position in shares of Open Text during the fourth quarter worth approximately $105,000. Institutional investors and hedge funds own 70.37% of the company’s stock.

Open Text Price Performance

Shares of NASDAQ OTEX opened at $24.13 on Monday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.50. The business’s 50 day moving average price is $27.05 and its two-hundred day moving average price is $29.24. The company has a market cap of $6.34 billion, a PE ratio of 9.81 and a beta of 1.13. Open Text Co. has a twelve month low of $23.43 and a twelve month high of $37.77.

Open Text (NASDAQ:OTEX) (TSE:OTC) last issued its quarterly earnings data on Thursday, February 6th. The software maker reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.10. Open Text had a net margin of 12.21% and a return on equity of 23.23%. On average, analysts predict that Open Text Co. will post 3.45 EPS for the current year.

Open Text Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a dividend of $0.2625 per share. This represents a $1.05 dividend on an annualized basis and a yield of 4.35%. This is a positive change from Open Text’s previous quarterly dividend of $0.26. The ex-dividend date was Friday, March 7th. Open Text’s dividend payout ratio (DPR) is currently 42.68%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. UBS Group began coverage on Open Text in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 target price for the company. TD Securities lowered their price objective on Open Text from $38.00 to $35.00 and set a “buy” rating for the company in a research report on Sunday, February 9th. Barclays upped their target price on shares of Open Text from $34.00 to $36.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Citigroup boosted their price target on shares of Open Text from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Finally, Royal Bank of Canada reduced their price objective on shares of Open Text from $33.00 to $31.00 and set a “sector perform” rating on the stock in a research note on Friday, February 7th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $35.18.

Open Text 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.