Open Text Corporation $OTEX Shares Bought by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. raised its stake in shares of Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) by 3.9% in the third quarter, Holdings Channel.com reports. The fund owned 960,681 shares of the software maker’s stock after purchasing an additional 35,717 shares during the period. TD Waterhouse Canada Inc.’s holdings in Open Text were worth $35,654,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Sagard Holdings Management Inc. purchased a new position in shares of Open Text in the second quarter valued at approximately $30,000. MAI Capital Management grew its stake in shares of Open Text by 58.7% during the second quarter. MAI Capital Management now owns 1,595 shares of the software maker’s stock worth $47,000 after purchasing an additional 590 shares in the last quarter. Cromwell Holdings LLC increased its holdings in shares of Open Text by 27.4% in the 2nd quarter. Cromwell Holdings LLC now owns 1,635 shares of the software maker’s stock valued at $48,000 after acquiring an additional 352 shares during the last quarter. WealthCollab LLC increased its stake in Open Text by 39.5% in the second quarter. WealthCollab LLC now owns 1,640 shares of the software maker’s stock valued at $48,000 after purchasing an additional 464 shares during the last quarter. Finally, Osaic Holdings Inc. raised its stake in Open Text by 108.8% during the 2nd quarter. Osaic Holdings Inc. now owns 1,798 shares of the software maker’s stock worth $52,000 after acquiring an additional 937 shares in the last quarter. Institutional investors and hedge funds own 70.37% of the company’s stock.

Open Text Trading Down 3.7%

Shares of OTEX opened at $27.38 on Thursday. Open Text Corporation has a one year low of $22.79 and a one year high of $39.90. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market capitalization of $6.89 billion, a P/E ratio of 14.34 and a beta of 1.08. The stock has a 50-day moving average price of $32.36 and a 200 day moving average price of $33.66.

Open Text (NASDAQ:OTEX) (TSE:OTC) last issued its earnings results on Wednesday, November 5th. The software maker reported $1.05 EPS for the quarter, topping the consensus estimate of $1.00 by $0.05. Open Text had a return on equity of 23.44% and a net margin of 9.60%.The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter last year, the firm earned $0.93 EPS. The business’s revenue was up 1.5% on a year-over-year basis. Sell-side analysts forecast that Open Text Corporation will post 3.45 EPS for the current fiscal year.

Open Text Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Friday, December 5th. Open Text’s dividend payout ratio (DPR) is presently 57.59%.

Wall Street Analyst Weigh In

OTEX has been the subject of a number of recent research reports. Jefferies Financial Group increased their price target on shares of Open Text from $33.00 to $35.00 and gave the stock a “hold” rating in a research note on Thursday, November 6th. Royal Bank Of Canada dropped their price objective on Open Text from $35.00 to $33.00 and set a “sector perform” rating on the stock in a report on Monday. Barclays increased their target price on shares of Open Text from $33.00 to $39.00 and gave the company an “equal weight” rating in a report on Tuesday, October 21st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Open Text in a research report on Monday, December 29th. Finally, CIBC reduced their price objective on Open Text from $40.00 to $37.00 and set a “neutral” rating on the stock in a research report on Friday, January 16th. Three equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Open Text currently has an average rating of “Hold” and an average target price of $38.83.

About Open Text

Open Text Corporation is a Canadian enterprise information management (EIM) software company that develops solutions for organizations seeking to manage, protect and extract insight from their unstructured and structured data. The company’s platform encompasses document management, records management, digital asset management and archiving, enabling companies to govern information across its lifecycle.

Open Text’s product suite includes content services, business process management, customer experience management, analytics and security products.