Harbour Capital Advisors LLC bought a new stake in shares of Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 7,600 shares of the software maker’s stock, valued at approximately $245,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wells Fargo & Company MN boosted its stake in shares of Open Text Corporation by 15.6% in the 2nd quarter. Wells Fargo & Company MN now owns 5,539 shares of the software maker’s stock valued at $175,000 after buying an additional 749 shares during the period. Bank of Nova Scotia Trust Co. boosted its stake in shares of Open Text Corporation by 7.5% in the 2nd quarter. Bank of Nova Scotia Trust Co. now owns 6,498 shares of the software maker’s stock valued at $205,000 after buying an additional 452 shares during the period. Creative Planning boosted its stake in shares of Open Text Corporation by 48.7% in the 2nd quarter. Creative Planning now owns 6,714 shares of the software maker’s stock valued at $212,000 after buying an additional 2,200 shares during the period. Yorktown Management & Research Co Inc purchased a new position in shares of Open Text Corporation in the 2nd quarter valued at about $243,000. Finally, US Bancorp DE boosted its stake in shares of Open Text Corporation by 6.8% in the 2nd quarter. US Bancorp DE now owns 8,206 shares of the software maker’s stock valued at $258,000 after buying an additional 524 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Several equities analysts have recently issued reports on OTEX shares. CIBC lifted their price objective on Open Text Corporation from $41.00 to $42.00 in a research note on Friday, November 3rd. BMO Capital Markets decreased their price objective on Open Text Corporation from $40.00 to $38.00 in a research note on Friday, November 3rd. Barclays PLC lifted their price objective on Open Text Corporation from $54.00 to $55.00 in a research note on Friday, November 3rd. Zacks Investment Research upgraded Open Text Corporation from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research note on Wednesday, October 18th. Finally, TD Securities lifted their price objective on Open Text Corporation from $38.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $42.78.

ILLEGAL ACTIVITY NOTICE: “Harbour Capital Advisors LLC Takes $245,000 Position in Open Text Corporation (OTEX)” was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this report on another publication, it was copied illegally and republished in violation of United States and international copyright and trademark legislation. The original version of this report can be read at https://www.thecerbatgem.com/2017/11/22/harbour-capital-advisors-llc-takes-245000-position-in-open-text-corporation-otex.html.

Shares of Open Text Corporation (OTEX) traded up $0.38 during midday trading on Wednesday, hitting $33.91. The stock had a trading volume of 555,400 shares, compared to its average volume of 503,827. 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 $29.58 and a 1-year high of $35.45. The firm has a market cap of $8,901.61, a price-to-earnings ratio of 58.83 and a beta of 0.47.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Friday, December 1st will be given a dividend of $0.132 per share. This represents a $0.53 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Thursday, November 30th. Open Text Corporation’s dividend payout ratio (DPR) is presently 92.98%.

Open Text Corporation 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.

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

Receive News & Stock Ratings for Open Text Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Open Text Corporation and related stocks with our FREE daily email newsletter.