Andra AP fonden Buys 30,600 Shares of Open Text Corporation $OTEX

Andra AP fonden grew its stake in shares of Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) by 546.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,200 shares of the software maker’s stock after acquiring an additional 30,600 shares during the quarter. Andra AP fonden’s holdings in Open Text were worth $805,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Tidal Investments LLC increased its position in Open Text by 2.6% during the second quarter. Tidal Investments LLC now owns 18,059 shares of the software maker’s stock valued at $527,000 after acquiring an additional 460 shares during the last quarter. WealthCollab LLC grew its position in Open Text by 39.5% during the second quarter. WealthCollab LLC now owns 1,640 shares of the software maker’s stock valued at $48,000 after buying an additional 464 shares during the period. Vident Advisory LLC increased its holdings in Open Text by 3.7% during the fourth quarter. Vident Advisory LLC now owns 15,715 shares of the software maker’s stock valued at $512,000 after buying an additional 555 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Open Text by 39.7% in the second quarter. EverSource Wealth Advisors LLC now owns 2,005 shares of the software maker’s stock worth $59,000 after acquiring an additional 570 shares during the period. Finally, State of Tennessee Department of Treasury boosted its stake in shares of Open Text by 0.4% during the 4th quarter. State of Tennessee Department of Treasury now owns 147,862 shares of the software maker’s stock worth $4,817,000 after acquiring an additional 584 shares during the last quarter. 70.37% of the stock is currently owned by hedge funds and other institutional investors.

Open Text Trading Down 3.1%

Shares of OTEX stock opened at $21.52 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $5.21 billion, a price-to-earnings ratio of 10.50 and a beta of 1.04. Open Text Corporation has a 12-month low of $19.77 and a 12-month high of $39.90. The stock’s 50-day moving average price is $22.65 and its 200-day moving average price is $24.10.

Open Text (NASDAQ:OTEX) (TSE:OTC) last released its quarterly earnings results on Thursday, May 7th. The software maker reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.07. Open Text had a return on equity of 24.77% and a net margin of 9.91%.The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the business posted $0.82 EPS. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities research analysts predict that Open Text Corporation will post 4.05 EPS for the current fiscal year.

Open Text Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 19th. Investors of record on Friday, June 5th were issued a $0.275 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 5.1%. Open Text’s dividend payout ratio (DPR) is presently 53.66%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Citigroup lowered their target price on Open Text from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, May 8th. UBS Group set a $25.00 price objective on Open Text in a research note on Friday, May 8th. National Bank Financial reduced their target price on shares of Open Text from $45.00 to $33.00 and set an “outperform” rating for the company in a report on Wednesday, May 27th. Royal Bank Of Canada decreased their target price on shares of Open Text from $30.00 to $27.00 and set a “sector perform” rating on the stock in a research note on Friday, May 8th. Finally, Wall Street Zen upgraded shares of Open Text from a “buy” rating to a “strong-buy” rating in a research report on Monday. Four investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, Open Text presently has a consensus rating of “Hold” and an average target price of $33.67.

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.