Achmea Investment Management B.V. Buys 118,336 Shares of Open Text Corporation $OTEX

Achmea Investment Management B.V. increased its stake in shares of Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) by 351.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 152,028 shares of the software maker’s stock after purchasing an additional 118,336 shares during the period. Achmea Investment Management B.V. owned approximately 0.06% of Open Text worth $5,683,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. JARISLOWSKY FRASER Ltd boosted its stake in Open Text by 0.6% during the 3rd quarter. JARISLOWSKY FRASER Ltd now owns 21,150,154 shares of the software maker’s stock worth $790,736,000 after acquiring an additional 117,436 shares during the last quarter. Vanguard Group Inc. grew its holdings in Open Text by 2.0% during the third quarter. Vanguard Group Inc. now owns 11,689,086 shares of the software maker’s stock valued at $436,926,000 after purchasing an additional 229,758 shares during the period. First Trust Advisors LP increased its stake in Open Text by 9.3% in the third quarter. First Trust Advisors LP now owns 9,027,450 shares of the software maker’s stock valued at $337,445,000 after purchasing an additional 765,366 shares in the last quarter. Brandes Investment Partners LP raised its holdings in Open Text by 42.7% in the second quarter. Brandes Investment Partners LP now owns 8,368,336 shares of the software maker’s stock worth $244,356,000 after purchasing an additional 2,506,058 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Open Text by 11.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 7,730,470 shares of the software maker’s stock worth $225,898,000 after purchasing an additional 810,352 shares during the period. Institutional investors and hedge funds own 70.37% of the company’s stock.

Open Text Price Performance

NASDAQ:OTEX opened at $22.97 on Thursday. Open Text Corporation has a 52-week low of $22.26 and a 52-week high of $39.90. The company has a market cap of $5.64 billion, a P/E ratio of 13.51 and a beta of 1.08. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.94 and a current ratio of 0.94. The stock’s 50-day simple moving average is $26.21 and its 200 day simple moving average is $32.22.

Open Text (NASDAQ:OTEX) (TSE:OTC) last issued its quarterly earnings results on Thursday, February 5th. The software maker reported $1.13 EPS for the quarter, beating the consensus estimate of $1.04 by $0.09. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Open Text had a return on equity of 23.60% and a net margin of 8.42%.The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.11 earnings per share. As a group, sell-side analysts forecast that Open Text Corporation will post 3.45 EPS for the current fiscal year.

Open Text Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.10 annualized dividend and a dividend yield of 4.8%. Open Text’s dividend payout ratio (DPR) is currently 64.71%.

Analyst Upgrades and Downgrades

OTEX has been the topic of several recent analyst reports. Citigroup reduced their target price on Open Text from $36.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, February 6th. Zacks Research downgraded Open Text from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Canadian Imperial Bank of Commerce cut their price objective on Open Text from $40.00 to $37.00 and set a “neutral” rating on the stock in a report on Friday, January 16th. Weiss Ratings reissued a “hold (c+)” rating on shares of Open Text in a research note on Monday, December 29th. Finally, Barclays dropped their target price on shares of Open Text from $39.00 to $30.00 and set an “equal weight” rating on the stock in a report on Friday, February 6th. Three investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, Open Text presently has an average rating of “Hold” and a consensus price target of $35.75.

Open Text Company Profile

Open Text Corporation is a Canadian enterprise information management (EIM) software company that develops solutions for organizations seeking to manage, protect and extract insight from their unstructured and structured data. The company’s platform encompasses document management, records management, digital asset management and archiving, enabling companies to govern information across its lifecycle.

Open Text’s product suite includes content services, business process management, customer experience management, analytics and security products.