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

DGS Capital Management LLC raised its holdings in Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 3.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,511 shares of the software maker’s stock after buying an additional 1,271 shares during the period. Open Text comprises about 0.5% of DGS Capital Management LLC’s holdings, making the stock its 28th largest position. DGS Capital Management LLC’s holdings in Open Text were worth $1,408,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. IFP Advisors Inc grew its holdings in shares of Open Text by 82.0% during the third quarter. IFP Advisors Inc now owns 870 shares of the software maker’s stock worth $31,000 after purchasing an additional 392 shares during the last quarter. Pacifica Partners Inc. purchased a new position in shares of Open Text during the fourth quarter worth about $32,000. Allworth Financial LP grew its holdings in shares of Open Text by 125.7% during the third quarter. Allworth Financial LP now owns 957 shares of the software maker’s stock worth $34,000 after purchasing an additional 533 shares during the last quarter. Impact Partnership Wealth LLC purchased a new position in shares of Open Text during the third quarter worth about $37,000. Finally, Power Corp of Canada purchased a new position in shares of Open Text during the first quarter worth about $43,000. 70.37% of the stock is currently owned by institutional investors and hedge funds.

Open Text Price Performance

Shares of OTEX stock traded down $0.01 during midday trading on Tuesday, reaching $34.71. 149,035 shares of the company traded hands, compared to its average volume of 566,650. The firm’s 50 day simple moving average is $38.88 and its two-hundred day simple moving average is $38.76. Open Text Co. has a 1-year low of $32.04 and a 1-year high of $45.47. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.38 and a quick ratio of 1.38. The firm has a market cap of $9.46 billion, a PE ratio of 73.66 and a beta of 1.09.

Open Text (NASDAQ:OTEX) (TSE:OTC) last posted its quarterly earnings results on Thursday, February 1st. The software maker reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.01. Open Text had a net margin of 2.24% and a return on equity of 22.99%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.48 billion. On average, equities research analysts expect that Open Text Co. will post 4.14 EPS for the current fiscal year.

Open Text Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Friday, March 1st were given a dividend of $0.25 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.88%. Open Text’s payout ratio is 212.77%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on OTEX. Jefferies Financial Group began coverage on Open Text in a report on Tuesday, February 27th. They set a “buy” rating and a $45.00 price objective on the stock. Citigroup lowered their price target on Open Text from $44.00 to $42.00 and set a “neutral” rating on the stock in a report on Friday, March 22nd. TD Securities raised their price target on Open Text from $53.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. CIBC raised their price target on Open Text from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, January 11th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $53.00 price target on shares of Open Text in a report on Friday, February 2nd. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $46.25.

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.