Open Text Co. (NASDAQ:OTEX) Shares Purchased by APG Asset Management N.V.

APG Asset Management N.V. lifted its holdings in Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 1,750.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 157,899 shares of the software maker’s stock after acquiring an additional 149,365 shares during the period. APG Asset Management N.V. owned approximately 0.06% of Open Text worth $4,313,000 as of its most recent SEC filing.

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

Open Text Stock Up 1.9 %

Shares of Open Text stock opened at $25.15 on Friday. 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 has a 50-day moving average price of $26.35 and a 200 day moving average price of $28.87. Open Text Co. has a fifty-two week low of $22.79 and a fifty-two week high of $36.39. The firm has a market cap of $6.61 billion, a P/E ratio of 10.22 and a beta of 1.13.

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

Open Text Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a $0.2625 dividend. This is an increase from Open Text’s previous quarterly dividend of $0.26. This represents a $1.05 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date was Friday, March 7th. Open Text’s dividend payout ratio (DPR) is presently 42.68%.

Analysts Set New Price Targets

Several analysts have issued reports on OTEX shares. TD Securities lowered their price objective on shares of Open Text from $38.00 to $35.00 and set a “buy” rating for the company in a research report on Sunday, February 9th. StockNews.com lowered shares of Open Text from a “strong-buy” rating to a “buy” rating in a report on Monday, January 27th. Royal Bank of Canada cut 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 report on Friday, February 7th. UBS Group initiated coverage on shares of Open Text in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 price objective for the company. Finally, Barclays lifted their target price on Open Text from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $35.18.

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.