AT Bancorp boosted its position in Open Text Corp (NASDAQ:OTEX) (TSE:OTC) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,844 shares of the software maker’s stock after purchasing an additional 1,489 shares during the period. AT Bancorp’s holdings in Open Text were worth $2,456,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Wells Fargo & Company MN grew its position in shares of Open Text by 15.6% in the 2nd quarter. Wells Fargo & Company MN now owns 5,539 shares of the software maker’s stock valued at $175,000 after buying an additional 749 shares during the last quarter. Harbour Capital Advisors LLC bought a new stake in shares of Open Text in the 3rd quarter valued at about $245,000. Lourd Capital LLC bought a new stake in shares of Open Text in the 4th quarter valued at about $294,000. Advisor Group Inc. grew its position in shares of Open Text by 6.6% in the 2nd quarter. Advisor Group Inc. now owns 8,579 shares of the software maker’s stock valued at $271,000 after buying an additional 529 shares during the last quarter. Finally, USA Financial Portformulas Corp grew its position in shares of Open Text by 42.7% in the 2nd quarter. USA Financial Portformulas Corp now owns 12,109 shares of the software maker’s stock valued at $382,000 after buying an additional 3,622 shares during the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have commented on the company. Royal Bank of Canada reiterated a “buy” rating and issued a $40.00 price target on shares of Open Text in a research report on Monday, October 30th. Mitsubishi UFJ Financial Group restated an “overweight” rating on shares of Open Text in a research report on Thursday, November 2nd. Zacks Investment Research upgraded Open Text from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Wednesday, February 7th. Macquarie lowered Open Text from a “neutral” rating to an “underperform” rating and set a $31.50 target price on the stock. in a research report on Wednesday, November 22nd. Finally, Raymond James Financial upped their target price on Open Text from $40.00 to $44.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. One research 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 stock currently has an average rating of “Buy” and an average price target of $44.18.
Shares of Open Text Corp (OTEX) traded up $0.27 during trading hours on Tuesday, reaching $34.70. The company’s stock had a trading volume of 700,500 shares, compared to its average volume of 805,487. The company has a market capitalization of $9,151.81, a price-to-earnings ratio of 48.87 and a beta of 0.35. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.66. Open Text Corp has a 1-year low of $30.88 and a 1-year high of $40.31.
Open Text (NASDAQ:OTEX) (TSE:OTC) last announced its quarterly earnings results on Wednesday, January 31st. The software maker reported $0.76 earnings per share (EPS) for the quarter, topping the 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 return on equity of 6.82% and a net margin of 7.20%. The company’s quarterly revenue was up 35.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 earnings per share. equities research analysts expect that Open Text Corp will post 0.74 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Friday, March 2nd will be paid a $0.132 dividend. This represents a $0.53 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Thursday, March 1st. Open Text’s dividend payout ratio (DPR) is presently 74.65%.
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Open Text 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.
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