Open Text Corporation $OTEX Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. lifted its position in shares of Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,689,086 shares of the software maker’s stock after purchasing an additional 229,758 shares during the period. Vanguard Group Inc.’s holdings in Open Text were worth $436,926,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OTEX. JARISLOWSKY FRASER Ltd grew its position in shares of Open Text by 0.6% in the 3rd quarter. JARISLOWSKY FRASER Ltd now owns 21,150,154 shares of the software maker’s stock valued at $790,736,000 after buying an additional 117,436 shares during the last quarter. Brandes Investment Partners LP grew its stake in shares of Open Text by 42.7% in the 2nd quarter. Brandes Investment Partners LP now owns 8,368,336 shares of the software maker’s stock valued at $244,356,000 after purchasing an additional 2,506,058 shares during the last quarter. First Trust Advisors LP grew its position in Open Text by 1.5% in the 2nd quarter. First Trust Advisors LP now owns 8,262,084 shares of the software maker’s stock valued at $241,328,000 after buying an additional 119,163 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Open Text by 11.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 7,730,470 shares of the software maker’s stock valued at $225,898,000 after buying an additional 810,352 shares during the period. Finally, Letko Brosseau & Associates Inc. lifted its stake in shares of Open Text by 16.2% in the 2nd quarter. Letko Brosseau & Associates Inc. now owns 5,649,818 shares of the software maker’s stock worth $164,754,000 after acquiring an additional 789,013 shares during the period. 70.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OTEX has been the subject of a number of recent analyst reports. UBS Group set a $26.00 price objective on shares of Open Text in a research report on Friday, February 6th. Canadian Imperial Bank of Commerce decreased their price target on Open Text from $40.00 to $37.00 and set a “neutral” rating on the stock in a research note on Friday, January 16th. Weiss Ratings restated a “hold (c+)” rating on shares of Open Text in a research report on Monday, December 29th. Barclays lowered 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 research report on Friday, February 6th. Finally, Zacks Research cut Open Text from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Three analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Open Text has an average rating of “Hold” and an average target price of $35.75.

Open Text Price Performance

OTEX stock opened at $24.48 on Thursday. 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 moving average price is $28.79 and its 200 day moving average price is $33.00. The firm has a market cap of $6.13 billion, a P/E ratio of 14.40 and a beta of 1.08. Open Text Corporation has a 1 year low of $22.44 and a 1 year high of $39.90.

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

Open Text Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be issued a dividend of $0.275 per share. The ex-dividend date is Friday, March 6th. This represents a $1.10 annualized dividend and a dividend yield of 4.5%. Open Text’s dividend payout ratio (DPR) is 64.71%.

About Open Text

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.