Beutel Goodman & Co Ltd. Has $189.35 Million Stock Holdings in Open Text Corporation $OTEX

Beutel Goodman & Co Ltd. decreased its position in shares of Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) by 3.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,493,133 shares of the software maker’s stock after selling 222,591 shares during the quarter. Beutel Goodman & Co Ltd. owned about 2.55% of Open Text worth $189,345,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Arkadios Wealth Advisors bought a new position in shares of Open Text during the first quarter worth $299,000. Natixis Advisors LLC raised its holdings in Open Text by 15.0% during the 1st quarter. Natixis Advisors LLC now owns 47,243 shares of the software maker’s stock worth $1,193,000 after buying an additional 6,168 shares during the period. Vanguard Group Inc. lifted its stake in Open Text by 6.1% in the first quarter. Vanguard Group Inc. now owns 11,151,279 shares of the software maker’s stock valued at $281,447,000 after buying an additional 639,514 shares in the last quarter. ASR Vermogensbeheer N.V. acquired a new position in shares of Open Text in the first quarter valued at approximately $3,533,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Open Text by 0.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 681,623 shares of the software maker’s stock worth $17,201,000 after acquiring an additional 3,914 shares in the last quarter. Institutional investors own 70.37% of the company’s stock.

Open Text Trading Up 0.9%

OTEX stock opened at $33.77 on Friday. Open Text Corporation has a one year low of $22.79 and a one year high of $39.90. The stock has a market cap of $8.51 billion, a price-to-earnings ratio of 17.68 and a beta of 1.08. The company has a fifty day moving average price of $36.54 and a two-hundred day moving average price of $32.69. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.87 and a quick ratio of 0.87.

Open Text (NASDAQ:OTEX) (TSE:OTC) last issued its quarterly earnings data on Wednesday, November 5th. The software maker reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.05. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.27 billion. Open Text had a net margin of 9.60% and a return on equity of 23.44%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the business posted $0.93 earnings per share. Equities analysts anticipate that Open Text Corporation will post 3.45 EPS for the current year.

Open Text Dividend Announcement

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

Analysts Set New Price Targets

OTEX has been the subject of a number of recent research reports. Barclays upped their price target on Open Text from $33.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 21st. Wall Street Zen upgraded Open Text from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Jefferies Financial Group raised their target price on shares of Open Text from $33.00 to $35.00 and gave the company a “hold” rating in a research note on Thursday, November 6th. CIBC boosted their target price on shares of Open Text from $34.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Finally, National Bankshares set a $45.00 price target on shares of Open Text and gave the company an “outperform” rating in a research note on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $39.42.

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.