Natixis Advisors LLC Makes New $1.47 Million Investment in Open Text Co. (NASDAQ:OTEX)

Natixis Advisors LLC acquired a new stake in shares of Open Text Co. (NASDAQ:OTEX) (TSE:OTC) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 44,091 shares of the software maker’s stock, valued at approximately $1,467,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in OTEX. Price T Rowe Associates Inc. MD grew its holdings in Open Text by 3.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,585 shares of the software maker’s stock worth $1,149,000 after acquiring an additional 1,056 shares during the last quarter. Value Partners Investments Inc. lifted its holdings in Open Text by 17.5% in the 2nd quarter. Value Partners Investments Inc. now owns 2,291,818 shares of the software maker’s stock worth $68,846,000 after buying an additional 341,073 shares during the period. M&G Plc bought a new stake in shares of Open Text in the 2nd quarter worth approximately $404,000. NorthCrest Asset Manangement LLC increased its stake in shares of Open Text by 3.1% during the second quarter. NorthCrest Asset Manangement LLC now owns 95,604 shares of the software maker’s stock valued at $2,872,000 after buying an additional 2,834 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Open Text by 11.6% during the second quarter. Assenagon Asset Management S.A. now owns 18,550 shares of the software maker’s stock valued at $557,000 after acquiring an additional 1,926 shares in the last quarter. Institutional investors own 70.37% of the company’s stock.

Analyst Upgrades and Downgrades

OTEX has been the topic of a number of research analyst reports. Citigroup reduced their price objective on shares of Open Text from $34.00 to $33.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Barclays decreased their price target on shares of Open Text from $36.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, November 1st. Jefferies Financial Group cut their price objective on Open Text from $42.00 to $35.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Scotiabank decreased their target price on Open Text from $40.00 to $35.00 and set a “sector perform” rating for the company in a research report on Friday, November 1st. Finally, TD Securities dropped their price target on Open Text from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $35.90.

Open Text Trading Up 2.8 %

NASDAQ OTEX opened at $30.28 on Tuesday. The stock’s fifty day moving average price is $31.89 and its 200-day moving average price is $31.02. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.54. The stock has a market cap of $8.05 billion, a P/E ratio of 16.87 and a beta of 1.13. Open Text Co. has a 12 month low of $27.50 and a 12 month high of $45.47.

Open Text (NASDAQ:OTEX) (TSE:OTC) last released its quarterly earnings data on Thursday, October 31st. The software maker reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.13. Open Text had a net margin of 8.35% and a return on equity of 24.34%. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the business earned $0.90 EPS. Open Text’s revenue was down 11.0% compared to the same quarter last year. As a group, equities analysts forecast that Open Text Co. will post 3.37 EPS for the current fiscal year.

Open Text Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.262 per share. This represents a $1.05 annualized dividend and a yield of 3.46%. This is an increase from Open Text’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, November 29th. Open Text’s dividend payout ratio (DPR) is currently 60.69%.

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.