Open Text Co. (NASDAQ:OTEX) Position Lessened by Captrust Financial Advisors

Captrust Financial Advisors lowered its position in Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 30.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,839 shares of the software maker’s stock after selling 7,094 shares during the quarter. Captrust Financial Advisors’ holdings in Open Text were worth $449,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. IFP Advisors Inc increased its position in Open Text by 103.8% during the fourth quarter. IFP Advisors Inc now owns 1,011 shares of the software maker’s stock worth $29,000 after buying an additional 515 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Open Text by 40.8% in the 4th quarter. Blue Trust Inc. now owns 1,373 shares of the software maker’s stock valued at $39,000 after acquiring an additional 398 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in Open Text in the 4th quarter worth approximately $60,000. Generali Asset Management SPA SGR bought a new stake in Open Text during the fourth quarter worth approximately $62,000. Finally, Allworth Financial LP boosted its position in Open Text by 20.7% during the fourth quarter. Allworth Financial LP now owns 2,564 shares of the software maker’s stock worth $73,000 after purchasing an additional 439 shares during the period. 70.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Barclays reduced their price objective on shares of Open Text from $36.00 to $29.00 and set an “equal weight” rating for the company in a research note on Monday, April 21st. National Bankshares cut their target price on shares of Open Text from $38.00 to $34.00 and set a “sector perform” rating for the company in a research report on Friday, April 25th. TD Securities lowered their price target on Open Text from $38.00 to $35.00 and set a “buy” rating on the stock in a research report on Sunday, February 9th. BMO Capital Markets cut their price objective on Open Text from $30.00 to $28.00 and set a “market perform” rating for the company in a research report on Friday, May 2nd. Finally, Scotiabank lowered their target price on Open Text from $35.00 to $30.00 and set a “sector perform” rating on the stock in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $32.30.

Open Text Stock Performance

OTEX opened at $28.12 on Tuesday. The stock’s 50 day simple moving average is $26.10 and its 200-day simple moving average is $27.67. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.50. The stock has a market cap of $7.30 billion, a PE ratio of 11.43 and a beta of 1.15. Open Text Co. has a 1 year low of $22.79 and a 1 year high of $34.20.

Open Text (NASDAQ:OTEX) (TSE:OTC) last announced its quarterly earnings results on Wednesday, April 30th. The software maker reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.01. Open Text had a net margin of 12.21% and a return on equity of 23.23%. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the firm posted $0.94 EPS. The business’s revenue for the quarter was down 13.3% on a year-over-year basis. Sell-side analysts forecast that Open Text Co. will post 3.45 EPS for the current year.

Open Text Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.2625 per share. This represents a $1.05 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date is Friday, June 6th. Open Text’s dividend payout ratio is 42.86%.

Open Text Company 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.