Grantham Mayo Van Otterloo & Co. LLC Purchases 34,142 Shares of Open Text Corporation $OTEX

Grantham Mayo Van Otterloo & Co. LLC boosted its position in shares of Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) by 2.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,376,901 shares of the software maker’s stock after acquiring an additional 34,142 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned 0.55% of Open Text worth $51,470,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Sagard Holdings Management Inc. bought a new stake in shares of Open Text during the 2nd quarter valued at about $30,000. MAI Capital Management lifted its stake in shares of Open Text by 58.7% in the 2nd quarter. MAI Capital Management now owns 1,595 shares of the software maker’s stock worth $47,000 after purchasing an additional 590 shares during the period. WealthCollab LLC lifted its stake in shares of Open Text by 39.5% in the 2nd quarter. WealthCollab LLC now owns 1,640 shares of the software maker’s stock worth $48,000 after purchasing an additional 464 shares during the period. Osaic Holdings Inc. increased its holdings in Open Text by 108.8% during the second quarter. Osaic Holdings Inc. now owns 1,798 shares of the software maker’s stock valued at $52,000 after buying an additional 937 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Open Text by 39.7% in the second quarter. EverSource Wealth Advisors LLC now owns 2,005 shares of the software maker’s stock worth $59,000 after acquiring an additional 570 shares during the period. Institutional investors own 70.37% of the company’s stock.

Open Text Price Performance

NASDAQ:OTEX opened at $25.56 on Friday. The business’s 50-day simple moving average is $27.62 and its two-hundred day simple moving average is $32.71. Open Text Corporation has a 52 week low of $22.44 and a 52 week high of $39.90. The stock has a market cap of $6.41 billion, a PE ratio of 15.04 and a beta of 1.08. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.57.

Open Text (NASDAQ:OTEX) (TSE:OTC) last released its earnings results on Thursday, February 5th. The software maker reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.09. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Open Text had a return on equity of 23.60% and a net margin of 8.42%.The firm’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the business posted $1.11 earnings per share. As a group, analysts forecast that Open Text Corporation will post 3.45 EPS for the current fiscal year.

Open Text Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Friday, March 6th. Open Text’s dividend payout ratio (DPR) is 64.71%.

Analyst Ratings Changes

Several research firms have recently commented on OTEX. Raymond James Financial reduced their price objective on Open Text from $48.00 to $42.00 and set an “outperform” rating for the company in a research note on Friday, February 6th. Citigroup reduced their price target on Open Text from $36.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, February 6th. Barclays lowered their price objective on Open Text from $39.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Friday, February 6th. UBS Group set a $26.00 price objective on Open Text in a research note on Friday, February 6th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Open Text in a report on Monday, December 29th. Three analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $35.75.

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.