Blue Trust Inc. Acquires 398 Shares of Open Text Co. (NASDAQ:OTEX)

Blue Trust Inc. boosted its holdings in shares of Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 40.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,373 shares of the software maker’s stock after purchasing an additional 398 shares during the quarter. Blue Trust Inc.’s holdings in Open Text were worth $39,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Toronto Dominion Bank increased its stake in Open Text by 169.6% during the third quarter. Toronto Dominion Bank now owns 576,105 shares of the software maker’s stock worth $19,173,000 after acquiring an additional 362,422 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of Open Text by 1,290.4% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 336,790 shares of the software maker’s stock worth $11,209,000 after purchasing an additional 312,567 shares during the period. AustralianSuper Pty Ltd purchased a new position in shares of Open Text in the 3rd quarter worth approximately $8,011,000. Access Investment Management LLC bought a new position in shares of Open Text during the 3rd quarter valued at approximately $6,509,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Open Text during the 4th quarter valued at $2,810,000. 70.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on OTEX. BMO Capital Markets dropped their price objective on shares of Open Text from $33.00 to $32.00 and set a “market perform” rating for the company in a research note on Friday, November 1st. TD Securities dropped their price target on shares of Open Text from $38.00 to $35.00 and set a “buy” rating for the company in a research note on Sunday, February 9th. StockNews.com lowered shares of Open Text from a “strong-buy” rating to a “buy” rating in a research report on Monday, January 27th. UBS Group initiated coverage on shares of Open Text in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 price objective for the company. Finally, Royal Bank of Canada reduced their price target on Open Text from $33.00 to $31.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $35.18.

Open Text Stock Down 0.7 %

Shares of NASDAQ:OTEX opened at $26.55 on Thursday. Open Text Co. has a 52-week low of $26.41 and a 52-week high of $40.55. The stock has a market cap of $7.01 billion, a P/E ratio of 10.79 and a beta of 1.12. The business has a fifty day moving average of $28.27 and a two-hundred day moving average of $30.42. 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 (NASDAQ:OTEX) (TSE:OTC) last announced its quarterly earnings results on Thursday, February 6th. The software maker reported $1.02 earnings per share (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%. On average, research analysts expect that Open Text Co. will post 3.45 earnings per share for the current year.

Open Text Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be paid a dividend of $0.2625 per share. This is a positive change from Open Text’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.05 annualized dividend and a yield of 3.95%. Open Text’s dividend payout ratio is presently 42.68%.

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.