Aviso Financial Inc. Buys 9,269 Shares of Open Text Corporation $OTEX

Aviso Financial Inc. increased its position in Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) by 10.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 94,171 shares of the software maker’s stock after purchasing an additional 9,269 shares during the period. Aviso Financial Inc.’s holdings in Open Text were worth $2,751,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in OTEX. MAI Capital Management boosted its holdings in Open Text by 58.7% in the second quarter. MAI Capital Management now owns 1,595 shares of the software maker’s stock worth $47,000 after acquiring an additional 590 shares in the last quarter. Cromwell Holdings LLC raised its position in shares of Open Text by 27.4% in the 2nd quarter. Cromwell Holdings LLC now owns 1,635 shares of the software maker’s stock worth $48,000 after purchasing an additional 352 shares during the last quarter. Headlands Technologies LLC raised its position in shares of Open Text by 360.6% in the 1st quarter. Headlands Technologies LLC now owns 2,888 shares of the software maker’s stock worth $73,000 after purchasing an additional 2,261 shares during the last quarter. United Services Automobile Association purchased a new stake in Open Text during the 1st quarter valued at about $213,000. Finally, Callan Family Office LLC bought a new stake in Open Text during the 2nd quarter valued at about $250,000. Hedge funds and other institutional investors own 70.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on OTEX shares. Jefferies Financial Group boosted their price target on Open Text from $33.00 to $35.00 and gave the stock a “hold” rating in a research note on Thursday, November 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of Open Text in a research report on Wednesday, November 19th. Citigroup raised their price target on shares of Open Text from $31.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. UBS Group boosted their price objective on shares of Open Text from $32.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, November 7th. Finally, Barclays raised their target price on shares of Open Text from $33.00 to $39.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, Open Text currently has an average rating of “Hold” and an average price target of $39.42.

Open Text Stock Performance

NASDAQ:OTEX opened at $33.28 on Tuesday. The firm has a market capitalization of $8.39 billion, a PE ratio of 20.17 and a beta of 1.14. The stock’s fifty day moving average is $37.10 and its 200 day moving average is $32.43. Open Text Corporation has a fifty-two week low of $22.79 and a fifty-two week high of $39.90. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.80 and a current ratio of 0.80.

Open Text (NASDAQ:OTEX) (TSE:OTC) last issued its earnings results on Wednesday, November 5th. The software maker reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.05. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.27 billion. Open Text had a net margin of 8.43% and a return on equity of 22.52%. The business’s revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.93 earnings per share. On average, sell-side analysts anticipate that Open Text Corporation will post 3.45 earnings per share for the current year.

Open Text Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.3%. Open Text’s payout ratio is 57.59%.

About Open Text

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.