Vontobel Holding Ltd. Increases Stock Holdings in Open Text Co. (NASDAQ:OTEX)

Vontobel Holding Ltd. lifted its position in Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 182.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 37,176 shares of the software maker’s stock after purchasing an additional 24,000 shares during the period. Vontobel Holding Ltd.’s holdings in Open Text were worth $1,563,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pacifica Partners Inc. purchased a new stake in shares of Open Text in the fourth quarter worth about $32,000. IFP Advisors Inc lifted its holdings in shares of Open Text by 82.0% in the third quarter. IFP Advisors Inc now owns 870 shares of the software maker’s stock worth $31,000 after buying an additional 392 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Open Text by 125.7% in the third quarter. Allworth Financial LP now owns 957 shares of the software maker’s stock worth $34,000 after buying an additional 533 shares in the last quarter. Power Corp of Canada purchased a new stake in shares of Open Text in the first quarter worth about $43,000. Finally, Impact Partnership Wealth LLC purchased a new stake in shares of Open Text in the third quarter worth about $37,000. 70.37% of the stock is owned by hedge funds and other institutional investors.

Open Text Stock Up 0.9 %

Shares of NASDAQ OTEX opened at $35.05 on Friday. Open Text Co. has a one year low of $32.04 and a one year high of $45.47. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.38 and a quick ratio of 1.38. The firm’s 50 day simple moving average is $38.21 and its two-hundred day simple moving average is $38.70. The stock has a market capitalization of $9.55 billion, a P/E ratio of 74.58 and a beta of 1.09.

Open Text (NASDAQ:OTEX) (TSE:OTC) last issued its quarterly earnings results on Thursday, February 1st. The software maker reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.01. Open Text had a net margin of 2.24% and a return on equity of 22.99%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.48 billion. As a group, analysts expect that Open Text Co. will post 4.14 EPS for the current fiscal year.

Open Text Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Friday, March 1st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend was Thursday, February 29th. Open Text’s payout ratio is 212.77%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. CIBC upped their price objective on shares of Open Text from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, January 11th. Jefferies Financial Group assumed coverage on shares of Open Text in a research report on Tuesday, February 27th. They issued a “buy” rating and a $45.00 price objective on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $53.00 price objective on shares of Open Text in a research report on Friday, February 2nd. StockNews.com upgraded shares of Open Text from a “hold” rating to a “buy” rating in a research report on Tuesday, February 6th. Finally, TD Securities upped their price objective on shares of Open Text from $53.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Open Text has a consensus rating of “Moderate Buy” and a consensus price target of $46.25.

Open Text 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.