Open Text Co. (NASDAQ:OTEX) Shares Purchased by Virginia Retirement Systems ET AL

Virginia Retirement Systems ET AL increased its holdings in shares of Open Text Co. (NASDAQ:OTEXGet Rating) (TSE:OTC) by 1.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 368,800 shares of the software maker’s stock after purchasing an additional 6,300 shares during the quarter. Virginia Retirement Systems ET AL owned 0.14% of Open Text worth $15,652,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. QV Investors Inc. increased its position in Open Text by 10.6% during the 1st quarter. QV Investors Inc. now owns 1,196,097 shares of the software maker’s stock worth $50,763,000 after purchasing an additional 114,816 shares in the last quarter. AdvisorNet Financial Inc boosted its holdings in Open Text by 114.6% in the 1st quarter. AdvisorNet Financial Inc now owns 1,796 shares of the software maker’s stock worth $76,000 after acquiring an additional 959 shares during the period. Addenda Capital Inc. boosted its holdings in Open Text by 7.8% in the 1st quarter. Addenda Capital Inc. now owns 649,188 shares of the software maker’s stock worth $34,413,000 after acquiring an additional 46,905 shares during the period. CLARET ASSET MANAGEMENT Corp boosted its holdings in Open Text by 2.5% in the 1st quarter. CLARET ASSET MANAGEMENT Corp now owns 11,761 shares of the software maker’s stock worth $499,000 after acquiring an additional 289 shares during the period. Finally, Mirova purchased a new position in Open Text in the 4th quarter worth approximately $455,000. 70.43% of the stock is owned by hedge funds and other institutional investors.

OTEX stock opened at $38.27 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.04. The firm has a market cap of $10.35 billion, a P/E ratio of 21.99 and a beta of 0.93. Open Text Co. has a 12-month low of $35.04 and a 12-month high of $55.25. The stock’s 50 day simple moving average is $38.74 and its 200 day simple moving average is $42.48.

Open Text (NASDAQ:OTEXGet Rating) (TSE:OTC) last posted its quarterly earnings results on Wednesday, May 4th. The software maker reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.01. The business had revenue of $882.30 million for the quarter, compared to analyst estimates of $883.76 million. Open Text had a return on equity of 20.16% and a net margin of 13.66%. The business’s revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.70 EPS. On average, research analysts forecast that Open Text Co. will post 3.04 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 24th. Investors of record on Friday, June 3rd were given a dividend of $0.2209 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.31%. The ex-dividend date was Thursday, June 2nd. Open Text’s dividend payout ratio is currently 50.57%.

A number of research firms have weighed in on OTEX. TheStreet cut Open Text from a “b-” rating to a “c” rating in a report on Tuesday, May 31st. StockNews.com cut Open Text from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 14th. Royal Bank of Canada reduced their target price on Open Text from $62.00 to $52.00 and set an “outperform” rating for the company in a research note on Thursday, May 5th. TD Securities reduced their target price on Open Text from $58.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, May 5th. Finally, Raymond James set a $60.00 target price on Open Text and gave the company an “outperform” rating in a research note on Thursday, May 5th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Open Text has an average rating of “Moderate Buy” and a consensus target price of $54.17.

Open Text Company Profile (Get Rating)

Open Text Corporation engages in the designs, develops, markets, and sells information management software and solutions. It offers content services; business network that manages data within the organization and outside the firewall; security and protection solutions for defending against cyber threats, and preparing for business continuity and response in the event of a breach; digital investigation and forensic security solutions; OpenText security solutions to address information cyber resilience needs; Carbonite and Webroot products; and OpenText Information Management software platform.

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

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