Open Text Co. (NASDAQ:OTEX) Shares Purchased by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC raised its position in Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 27.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,241 shares of the software maker’s stock after purchasing an additional 10,534 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Open Text were worth $1,392,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. BNP Paribas Financial Markets lifted its holdings in Open Text by 3.3% in the third quarter. BNP Paribas Financial Markets now owns 11,093 shares of the software maker’s stock valued at $369,000 after acquiring an additional 351 shares during the last quarter. Verition Fund Management LLC purchased a new position in shares of Open Text during the 3rd quarter worth $950,000. Point72 Asset Management L.P. acquired a new stake in shares of Open Text during the 3rd quarter worth about $324,000. Stifel Financial Corp purchased a new stake in Open Text in the 3rd quarter valued at about $2,232,000. Finally, Wellington Management Group LLP lifted its position in Open Text by 45.7% in the third quarter. Wellington Management Group LLP now owns 200,305 shares of the software maker’s stock valued at $6,675,000 after buying an additional 62,871 shares during the last quarter. Hedge funds and other institutional investors own 70.37% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on OTEX shares. Barclays boosted their price target on shares of Open Text from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. UBS Group started coverage on Open Text in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 target price on the stock. Citigroup raised their price target on Open Text from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. TD Securities cut their price objective on Open Text from $38.00 to $35.00 and set a “buy” rating on the stock in a report on Sunday, February 9th. Finally, StockNews.com cut Open Text from a “strong-buy” rating to a “buy” rating in a report on Monday, January 27th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Open Text currently has an average rating of “Hold” and an average target price of $35.18.

Open Text Stock Down 2.9 %

Shares of Open Text stock opened at $24.13 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.50. Open Text Co. has a 52-week low of $23.43 and a 52-week high of $37.77. The company has a market capitalization of $6.34 billion, a P/E ratio of 9.81 and a beta of 1.13. The company has a 50 day moving average of $27.05 and a 200 day moving average of $29.26.

Open Text (NASDAQ:OTEX) (TSE:OTC) last issued its earnings results on Thursday, February 6th. The software maker reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.10. Open Text had a net margin of 12.21% and a return on equity of 23.23%. As a group, research analysts forecast that Open Text Co. will post 3.45 EPS for the current fiscal year.

Open Text Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a dividend of $0.2625 per share. This represents a $1.05 annualized dividend and a dividend yield of 4.35%. The ex-dividend date of this dividend was Friday, March 7th. This is a positive change from Open Text’s previous quarterly dividend of $0.26. Open Text’s dividend payout ratio (DPR) is 42.68%.

Open Text Company 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.