Open Text Corporation $OTEX Shares Purchased by Axa S.A.

Axa S.A. lifted its position in shares of Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) by 131.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 730,661 shares of the software maker’s stock after buying an additional 415,188 shares during the quarter. Axa S.A. owned approximately 0.29% of Open Text worth $21,335,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Sagard Holdings Management Inc. acquired a new stake in shares of Open Text during the second quarter valued at $30,000. MAI Capital Management grew its position in Open Text by 58.7% during the second quarter. MAI Capital Management now owns 1,595 shares of the software maker’s stock valued at $47,000 after acquiring an additional 590 shares during the period. Cromwell Holdings LLC increased its position in Open Text by 27.4% during 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 in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Open Text by 39.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,005 shares of the software maker’s stock valued at $59,000 after purchasing an additional 570 shares in the last quarter. Finally, Headlands Technologies LLC lifted its stake in shares of Open Text by 360.6% during the first 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 in the last quarter. Institutional investors and hedge funds own 70.37% of the company’s stock.

Open Text Trading Up 0.7%

Shares of NASDAQ OTEX opened at $33.53 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.60. Open Text Corporation has a one year low of $22.79 and a one year high of $39.90. The business has a 50-day moving average price of $36.22 and a two-hundred day moving average price of $32.87. The firm has a market capitalization of $8.45 billion, a PE ratio of 17.56 and a beta of 1.08.

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

Open Text Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on OTEX. Royal Bank Of Canada boosted their target price on shares of Open Text from $30.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Tuesday, September 2nd. TD Securities downgraded Open Text from a “buy” rating to a “hold” rating and boosted their price target for the company from $35.00 to $40.00 in a report on Friday, October 3rd. Barclays increased their price objective on shares of Open Text from $33.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 21st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Open Text in a research note on Monday. Finally, Scotiabank upgraded Open Text from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $35.00 to $50.00 in a research report on Wednesday, September 24th. One equities research 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 stock has an average rating of “Hold” and an average target price of $39.42.

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.