Open Text Corporation $OTEX Holdings Cut by Value Partners Investments Inc.

Value Partners Investments Inc. decreased its stake in Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) by 16.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,857,455 shares of the software maker’s stock after selling 368,215 shares during the quarter. Open Text makes up 4.6% of Value Partners Investments Inc.’s holdings, making the stock its 6th biggest position. Value Partners Investments Inc.’s holdings in Open Text were worth $60,578,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of OTEX. JPMorgan Chase & Co. raised its position in shares of Open Text by 3.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,146,067 shares of the software maker’s stock worth $42,840,000 after purchasing an additional 37,010 shares during the last quarter. IFP Advisors Inc boosted its holdings in Open Text by 499.7% in the 3rd quarter. IFP Advisors Inc now owns 4,630 shares of the software maker’s stock worth $173,000 after buying an additional 3,858 shares during the last quarter. Swiss Life Asset Management Ltd increased its stake in Open Text by 3.9% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 133,366 shares of the software maker’s stock worth $4,990,000 after buying an additional 5,000 shares in the last quarter. CIBC Private Wealth Group LLC acquired a new position in shares of Open Text during the third quarter valued at approximately $33,000. Finally, Achmea Investment Management B.V. raised its holdings in shares of Open Text by 351.2% during the third quarter. Achmea Investment Management B.V. now owns 152,028 shares of the software maker’s stock valued at $5,683,000 after acquiring an additional 118,336 shares during the last quarter. Hedge funds and other institutional investors own 70.37% of the company’s stock.

Open Text Price Performance

OTEX stock opened at $22.57 on Friday. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.94 and a quick ratio of 0.94. The business has a 50 day simple moving average of $25.81 and a 200-day simple moving average of $32.07. The firm has a market capitalization of $5.54 billion, a PE ratio of 13.28 and a beta of 1.08. Open Text Corporation has a 1 year low of $21.91 and a 1 year high of $39.90.

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

Open Text Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, March 6th were paid a $0.275 dividend. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.9%. Open Text’s dividend payout ratio (DPR) is 64.71%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on OTEX shares. Canadian Imperial Bank of Commerce lowered their price target on Open Text from $40.00 to $37.00 and set a “neutral” rating on the stock in a research note on Friday, January 16th. 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. Royal Bank Of Canada decreased their price objective on Open Text from $33.00 to $30.00 and set a “sector perform” rating on the stock in a report on Friday, February 6th. Zacks Research cut shares of Open Text from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Finally, TD Securities upgraded shares of Open Text to a “hold” rating in a research report on Monday, February 2nd. Three investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Open Text currently has a consensus rating of “Hold” and a consensus target price of $35.75.

Open Text Profile

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.