Open Text Corp (OTEX) Position Trimmed by Disciplined Growth Investors Inc. MN
Disciplined Growth Investors Inc. MN trimmed its holdings in shares of Open Text Corp (NASDAQ:OTEX) (TSE:OTC) by 3.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,518,663 shares of the software maker’s stock after selling 169,133 shares during the period. Open Text comprises approximately 3.8% of Disciplined Growth Investors Inc. MN’s investment portfolio, making the stock its 6th biggest position. Disciplined Growth Investors Inc. MN owned approximately 2.06% of Open Text worth $192,049,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Premia Global Advisors LLC bought a new stake in Open Text during the first quarter worth approximately $108,000. Greenleaf Trust bought a new stake in Open Text during the fourth quarter worth approximately $140,000. Signaturefd LLC bought a new stake in Open Text during the first quarter worth approximately $185,000. Elkfork Partners LLC bought a new stake in Open Text during the fourth quarter worth approximately $193,000. Finally, American International Group Inc. bought a new stake in Open Text during the fourth quarter worth approximately $217,000. Hedge funds and other institutional investors own 68.12% of the company’s stock.
Shares of NASDAQ:OTEX opened at $36.13 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $9.54 billion, a P/E ratio of 9.01 and a beta of 0.28. Open Text Corp has a 52 week low of $30.88 and a 52 week high of $40.31.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 8th will be given a $0.1518 dividend. This is an increase from Open Text’s previous quarterly dividend of $0.13. The ex-dividend date is Thursday, June 7th. This represents a $0.61 dividend on an annualized basis and a yield of 1.68%. Open Text’s dividend payout ratio is presently 15.21%.
A number of analysts recently weighed in on OTEX shares. Royal Bank of Canada reduced their target price on shares of Open Text from $46.00 to $44.00 and set an “outperform” rating for the company in a report on Thursday, May 10th. Zacks Investment Research downgraded shares of Open Text from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 4th. BidaskClub upgraded shares of Open Text from a “sell” rating to a “hold” rating in a research report on Thursday, March 15th. Finally, Scotiabank restated an “outperform” rating and issued a $45.00 price target on shares of Open Text in a research report on Thursday, May 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $44.40.
About Open Text
Open Text Corporation provides a suite of software products and services that assist organizations in finding, utilizing, and sharing business information from various devices. The company offers content solutions that provide content and records management, archiving, and email management and capture solutions, as well as Core, a software as a service based multi-tenant cloud solution; business process management for analyzing, automating, monitoring, and optimizing structured business processes; and customer experience management products, which offer Web content management, digital asset management, customer communications management, social software, and portal.
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