Signaturefd LLC Trims Holdings in Open Text Corporation $OTEX

Signaturefd LLC trimmed its stake in shares of Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) by 43.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,247 shares of the software maker’s stock after selling 1,727 shares during the quarter. Signaturefd LLC’s holdings in Open Text were worth $66,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Vident Advisory LLC grew its holdings in Open Text by 6.6% during the 1st quarter. Vident Advisory LLC now owns 11,681 shares of the software maker’s stock valued at $295,000 after buying an additional 722 shares in the last quarter. Parallel Advisors LLC grew its stake in Open Text by 219.3% during the first quarter. Parallel Advisors LLC now owns 1,938 shares of the software maker’s stock valued at $49,000 after acquiring an additional 1,331 shares in the last quarter. Raymond James Financial Inc. increased its holdings in Open Text by 1.4% during the 1st quarter. Raymond James Financial Inc. now owns 127,887 shares of the software maker’s stock worth $3,230,000 after acquiring an additional 1,757 shares during the period. Alps Advisors Inc. lifted its stake in Open Text by 5.8% in the 1st quarter. Alps Advisors Inc. now owns 33,109 shares of the software maker’s stock worth $836,000 after purchasing an additional 1,807 shares in the last quarter. Finally, Ridgewood Investments LLC lifted its stake in Open Text by 23.8% in the 2nd quarter. Ridgewood Investments LLC now owns 10,726 shares of the software maker’s stock worth $313,000 after purchasing an additional 2,062 shares in the last quarter. Institutional investors own 70.37% of the company’s stock.

Open Text Stock Performance

Open Text stock opened at $37.94 on Monday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.61. The firm has a market cap of $9.60 billion, a P/E ratio of 22.99 and a beta of 1.17. Open Text Corporation has a 1-year low of $22.79 and a 1-year high of $39.04. The firm has a 50-day moving average of $33.41 and a 200-day moving average of $29.56.

Open Text (NASDAQ:OTEX) (TSE:OTC) last announced its quarterly earnings results on Thursday, August 7th. The software maker reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.11. Open Text had a return on equity of 22.52% and a net margin of 8.43%.The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the previous year, the business earned $0.98 EPS. Open Text’s revenue was down 3.8% compared to the same quarter last year. Sell-side analysts expect that Open Text Corporation will post 3.45 EPS for the current year.

Open Text Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were paid a $0.275 dividend. The ex-dividend date of this dividend was Friday, September 5th. This is a positive change from Open Text’s previous quarterly dividend of $0.26. This represents a $1.10 dividend on an annualized basis and a yield of 2.9%. Open Text’s payout ratio is 66.67%.

Wall Street Analyst Weigh In

OTEX has been the subject of a number of recent analyst reports. National Bank Financial upgraded shares of Open Text from a “sector perform” rating to an “outperform” rating and set a $45.00 price target for the company in a research report on Monday, September 15th. Scotiabank raised Open Text from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $35.00 to $50.00 in a research note on Wednesday, September 24th. Jefferies Financial Group lowered Open Text from a “buy” rating to a “hold” rating and set a $33.00 target price on the stock. in a research note on Tuesday, August 12th. CIBC reaffirmed a “neutral” rating on shares of Open Text in a report on Monday, August 11th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Open Text in a research report on Saturday, September 27th. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $37.25.

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.