Henry James International Management Inc. Increases Position in Open Text Co. (NASDAQ:OTEX)

Henry James International Management Inc. lifted its position in shares of Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 14.2% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 117,990 shares of the software maker’s stock after buying an additional 14,700 shares during the period. Open Text accounts for approximately 1.4% of Henry James International Management Inc.’s portfolio, making the stock its 21st largest holding. Henry James International Management Inc.’s holdings in Open Text were worth $4,582,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of OTEX. Wellington Management Group LLP lifted its stake in shares of Open Text by 9.9% during the third quarter. Wellington Management Group LLP now owns 138,683 shares of the software maker’s stock valued at $4,890,000 after buying an additional 12,488 shares during the period. Vanguard Group Inc. increased its position in Open Text by 1.6% during the third quarter. Vanguard Group Inc. now owns 10,086,008 shares of the software maker’s stock worth $354,019,000 after purchasing an additional 154,240 shares during the last quarter. First Affirmative Financial Network increased its position in Open Text by 9.1% during the fourth quarter. First Affirmative Financial Network now owns 8,044 shares of the software maker’s stock worth $338,000 after purchasing an additional 674 shares during the last quarter. HB Wealth Management LLC acquired a new position in Open Text during the fourth quarter worth approximately $214,000. Finally, Cigna Investments Inc. New acquired a new position in Open Text during the fourth quarter worth approximately $211,000. Hedge funds and other institutional investors own 70.37% of the company’s stock.

Open Text Stock Up 2.2 %

OTEX traded up $0.67 during trading hours on Tuesday, reaching $31.71. 1,189,587 shares of the stock traded hands, compared to its average volume of 680,342. The firm’s fifty day simple moving average is $29.92 and its two-hundred day simple moving average is $35.70. The company has a market cap of $8.56 billion, a price-to-earnings ratio of 51.15 and a beta of 1.12. Open Text Co. has a fifty-two week low of $27.54 and a fifty-two week high of $45.47. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.40 and a quick ratio of 1.40.

Open Text (NASDAQ:OTEX) (TSE:OTC) last released its quarterly earnings results on Thursday, May 2nd. The software maker reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.43 billion. Open Text had a net margin of 2.85% and a return on equity of 24.45%. As a group, analysts forecast that Open Text Co. will post 3.79 earnings per share for the current fiscal year.

Open Text Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Friday, May 31st were issued a dividend of $0.435 per share. This represents a $1.74 dividend on an annualized basis and a yield of 5.49%. This is a positive change from Open Text’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, May 31st. Open Text’s dividend payout ratio (DPR) is presently 161.29%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on OTEX shares. Scotiabank reaffirmed a “sector perform” rating on shares of Open Text in a research report on Friday, May 3rd. StockNews.com raised shares of Open Text from a “hold” rating to a “buy” rating in a research report on Saturday, May 11th. Citigroup dropped their price target on shares of Open Text from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Wednesday, June 26th. Barclays dropped their price objective on shares of Open Text from $44.00 to $38.00 and set an “equal weight” rating for the company in a research report on Friday, May 3rd. Finally, TD Securities dropped their price objective on shares of Open Text from $54.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Open Text currently has an average rating of “Moderate Buy” and a consensus price target of $41.50.

Open Text 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.