Open Text Corporation (OTEX) To Go Ex-Dividend on December 5th

Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) announced a quarterly dividend on Tuesday, November 4th. Investors of record on Friday, December 5th will be paid a dividend of 0.275 per share by the software maker on Friday, December 19th. This represents a c) annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, December 5th.

Open Text has decreased its dividend by an average of 0.1%per year over the last three years. Open Text has a dividend payout ratio of 26.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Open Text to earn $3.78 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 29.1%.

Open Text Stock Down 4.5%

OTEX stock traded down $1.71 during trading on Thursday, hitting $36.31. 1,095,553 shares of the stock traded hands, compared to its average volume of 1,293,489. Open Text has a 1 year low of $22.79 and a 1 year high of $39.90. The firm’s 50 day moving average is $37.15 and its two-hundred day moving average is $31.72. The stock has a market cap of $9.15 billion, a price-to-earnings ratio of 22.00 and a beta of 1.14. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.80 and a quick ratio of 0.80.

Open Text (NASDAQ:OTEX) (TSE:OTC) last announced its quarterly earnings data on Thursday, August 7th. The software maker reported $0.97 EPS for the quarter, beating the consensus estimate of $0.86 by $0.11. Open Text had a net margin of 8.43% and a return on equity of 22.52%. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the prior year, the firm posted $0.98 EPS. Open Text’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, sell-side analysts anticipate that Open Text will post 3.45 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in OTEX. Sagard Holdings Management Inc. acquired a new stake in Open Text in the second quarter valued at $30,000. MAI Capital Management grew its holdings in Open Text by 58.7% in the second quarter. MAI Capital Management now owns 1,595 shares of the software maker’s stock valued at $47,000 after purchasing an additional 590 shares during the last quarter. Cromwell Holdings LLC grew its holdings in Open Text by 27.4% in the second quarter. Cromwell Holdings LLC now owns 1,635 shares of the software maker’s stock valued at $48,000 after purchasing an additional 352 shares during the last quarter. WealthCollab LLC grew its holdings in Open Text by 39.5% in the second quarter. WealthCollab LLC now owns 1,640 shares of the software maker’s stock valued at $48,000 after purchasing an additional 464 shares during the last quarter. Finally, Osaic Holdings Inc. grew its holdings in Open Text by 108.8% in the second quarter. Osaic Holdings Inc. now owns 1,798 shares of the software maker’s stock valued at $52,000 after purchasing an additional 937 shares during the last quarter. 70.37% of the stock is currently owned by institutional investors and hedge funds.

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.