C WorldWide Group Holding A S grew its holdings in shares of Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) by 65.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,700 shares of the software maker’s stock after buying an additional 19,300 shares during the quarter. C WorldWide Group Holding A S’s holdings in Open Text Corporation were worth $1,961,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its stake in Open Text Corporation by 5.3% during the second quarter. The Manufacturers Life Insurance Company now owns 6,827,929 shares of the software maker’s stock worth $215,124,000 after buying an additional 340,986 shares during the period. Vanguard Group Inc. boosted its stake in shares of Open Text Corporation by 2.9% in the second quarter. Vanguard Group Inc. now owns 5,605,006 shares of the software maker’s stock valued at $176,781,000 after purchasing an additional 158,869 shares during the period. Fiera Capital Corp boosted its stake in shares of Open Text Corporation by 15.9% in the second quarter. Fiera Capital Corp now owns 3,007,953 shares of the software maker’s stock valued at $94,770,000 after purchasing an additional 411,920 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Open Text Corporation by 67.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,068,128 shares of the software maker’s stock valued at $65,198,000 after purchasing an additional 832,902 shares during the period. Finally, Great West Life Assurance Co. Can boosted its stake in shares of Open Text Corporation by 16.2% in the second quarter. Great West Life Assurance Co. Can now owns 1,872,391 shares of the software maker’s stock valued at $58,897,000 after purchasing an additional 260,943 shares during the period. Institutional investors own 66.02% of the company’s stock.

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Open Text Corporation (NASDAQ OTEX) traded down $0.08 on Monday, reaching $33.34. 61,648 shares of the company traded hands, compared to its average volume of 501,715. The firm has a market capitalization of $8,872.40, a PE ratio of 58.63 and a beta of 0.47. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.67. Open Text Corporation has a 1 year low of $29.30 and a 1 year high of $35.45.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Friday, December 1st will be issued a $0.132 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.53 annualized dividend and a yield of 1.58%. Open Text Corporation’s dividend payout ratio is presently 92.98%.

Several research analysts have recently weighed in on the stock. Mitsubishi UFJ Financial Group restated an “overweight” rating on shares of Open Text Corporation in a research note on Thursday, November 2nd. BMO Capital Markets restated an “outperform” rating and issued a $40.00 target price on shares of Open Text Corporation in a research note on Friday, August 4th. TD Securities upped their target price on shares of Open Text Corporation from $38.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. CIBC upped their target price on shares of Open Text Corporation from $41.00 to $42.00 in a research note on Friday, November 3rd. Finally, Barclays PLC upped their target price on shares of Open Text Corporation from $54.00 to $55.00 in a research note on Friday, November 3rd. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $42.78.

Open Text Corporation Company Profile

Open Text Corporation provides a platform and suite of software products and services that assist organizations in finding, utilizing, and sharing business information from any device. The Company designs, develops, markets and sells Enterprise Information Management (EIM) software and solutions. Its EIM offerings include Enterprise Content Management (ECM), Business Process Management (BPM), Customer Experience Management (CEM), Business Network, Discovery and Analytics.

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Institutional Ownership by Quarter for Open Text Corporation (NASDAQ:OTEX)

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