AGF Investments Inc. Has $37.54 Million Holdings in Open Text Corp (OTEX)

AGF Investments Inc. boosted its position in Open Text Corp (NASDAQ:OTEX) (TSE:OTC) by 78.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,055,451 shares of the software maker’s stock after purchasing an additional 463,544 shares during the period. AGF Investments Inc. owned approximately 0.40% of Open Text worth $37,541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in OTEX. Wells Fargo & Company MN lifted its stake in Open Text by 15.6% in the second quarter. Wells Fargo & Company MN now owns 5,539 shares of the software maker’s stock worth $175,000 after purchasing an additional 749 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Open Text by 91.7% in the second quarter. Alliancebernstein L.P. now owns 20,367 shares of the software maker’s stock worth $642,000 after purchasing an additional 9,741 shares during the last quarter. Nationwide Fund Advisors lifted its stake in Open Text by 1.7% in the second quarter. Nationwide Fund Advisors now owns 52,400 shares of the software maker’s stock worth $1,653,000 after purchasing an additional 900 shares during the last quarter. Vanguard Group Inc. lifted its stake in Open Text by 2.9% in the second quarter. Vanguard Group Inc. now owns 5,605,006 shares of the software maker’s stock worth $176,781,000 after purchasing an additional 158,869 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its stake in Open Text by 1.1% in the second quarter. Parametric Portfolio Associates LLC now owns 130,969 shares of the software maker’s stock worth $4,131,000 after purchasing an additional 1,376 shares during the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

Several analysts have issued reports on the stock. Zacks Investment Research raised shares of Open Text from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Wednesday, February 7th. Raymond James Financial raised their price objective on shares of Open Text from $40.00 to $44.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. National Bank Financial raised their price objective on shares of Open Text from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Royal Bank of Canada reissued a “buy” rating and issued a $46.00 price objective (up previously from $40.00) on shares of Open Text in a research note on Thursday, February 1st. Finally, Barclays raised their price objective on shares of Open Text from $44.00 to $46.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $44.18.

Open Text Corp (NASDAQ:OTEX) opened at $34.70 on Tuesday. The company has a market cap of $9,220.00, a P/E ratio of 48.87 and a beta of 0.35. Open Text Corp has a 1 year low of $30.88 and a 1 year high of $40.31. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.86 and a current ratio of 0.86.

Open Text (NASDAQ:OTEX) (TSE:OTC) last issued its earnings results on Wednesday, January 31st. The software maker reported $0.76 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.13. The business had revenue of $734.40 million for the quarter, compared to analyst estimates of $688.59 million. Open Text had a net margin of 7.20% and a return on equity of 6.82%. The company’s quarterly revenue was up 35.3% compared to the same quarter last year. During the same period last year, the company posted $0.54 earnings per share. research analysts anticipate that Open Text Corp will post 0.74 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Friday, March 2nd will be given a dividend of $0.132 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend is Thursday, March 1st. Open Text’s dividend payout ratio (DPR) is presently 74.65%.

COPYRIGHT VIOLATION NOTICE: “AGF Investments Inc. Has $37.54 Million Holdings in Open Text Corp (OTEX)” was first reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of United States and international trademark & copyright laws. The legal version of this article can be read at https://www.dispatchtribunal.com/2018/02/13/agf-investments-inc-has-37-54-million-holdings-in-open-text-corp-otex.html.

Open Text Company Profile

Open Text Corporation provides a platform and suite of software products and services that assist organizations in finding, utilizing, and sharing business information from any device. The Company designs, develops, markets and sells Enterprise Information Management (EIM) software and solutions. Its EIM offerings include Enterprise Content Management (ECM), Business Process Management (BPM), Customer Experience Management (CEM), Business Network, Discovery and Analytics.

Institutional Ownership by Quarter for Open Text (NASDAQ:OTEX)

Receive News & Ratings for Open Text Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Open Text and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply