Metis Global Partners LLC Has $355,000 Stake in Open Text Co. (NASDAQ:OTEX)

Metis Global Partners LLC trimmed its position in shares of Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 4.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,540 shares of the software maker’s stock after selling 536 shares during the period. Metis Global Partners LLC’s holdings in Open Text were worth $355,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new stake in shares of Open Text in the 3rd quarter valued at approximately $465,000. Farther Finance Advisors LLC boosted its stake in shares of Open Text by 74.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 8,701 shares of the software maker’s stock valued at $290,000 after purchasing an additional 3,719 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Open Text by 5.8% in the 3rd quarter. Van ECK Associates Corp now owns 21,476 shares of the software maker’s stock valued at $705,000 after purchasing an additional 1,178 shares in the last quarter. Easterly Investment Partners LLC boosted its stake in shares of Open Text by 5.6% in the 3rd quarter. Easterly Investment Partners LLC now owns 509,800 shares of the software maker’s stock valued at $16,966,000 after purchasing an additional 26,841 shares in the last quarter. Finally, Bridges Investment Management Inc. boosted its stake in shares of Open Text by 13.9% in the 3rd quarter. Bridges Investment Management Inc. now owns 47,330 shares of the software maker’s stock valued at $1,575,000 after purchasing an additional 5,760 shares in the last quarter. 70.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada reduced their price target on shares of Open Text from $33.00 to $31.00 and set a “sector perform” rating on the stock in a research note on Friday, February 7th. UBS Group started coverage on shares of Open Text in a report on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 price objective for the company. Barclays raised their price objective on shares of Open Text from $34.00 to $36.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Citigroup raised their price objective on shares of Open Text from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Finally, StockNews.com lowered shares of Open Text from a “strong-buy” rating to a “buy” rating in a report on Monday, January 27th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $35.18.

Open Text Stock Up 1.6 %

Open Text stock opened at $26.01 on Thursday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.87 and a current ratio of 0.87. Open Text Co. has a 52-week low of $25.07 and a 52-week high of $40.55. The firm has a 50 day moving average price of $28.05 and a two-hundred day moving average price of $30.21. The firm has a market cap of $6.87 billion, a price-to-earnings ratio of 10.57 and a beta of 1.12.

Open Text (NASDAQ:OTEX) (TSE:OTC) last released its quarterly earnings data on Thursday, February 6th. The software maker reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.10. Open Text had a net margin of 12.21% and a return on equity of 23.23%. Equities analysts predict that Open Text Co. will post 3.45 EPS for the current year.

Open Text Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be paid a $0.2625 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.05 annualized dividend and a dividend yield of 4.04%. This is a positive change from Open Text’s previous quarterly dividend of $0.26. Open Text’s payout ratio is currently 42.68%.

About Open Text

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.