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

Vanguard Group Inc. grew 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 filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,689,086 shares of the software maker’s stock after purchasing an additional 229,758 shares during the quarter. Vanguard Group Inc. owned approximately 4.64% of Open Text worth $436,926,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JARISLOWSKY FRASER Ltd boosted its stake in shares of Open Text by 0.6% during the 3rd quarter. JARISLOWSKY FRASER Ltd now owns 21,150,154 shares of the software maker’s stock worth $790,736,000 after acquiring an additional 117,436 shares in the last quarter. Brandes Investment Partners LP grew its holdings in Open Text by 42.7% in the second 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 period. First Trust Advisors LP raised its stake in shares of Open Text by 1.5% during the 2nd quarter. First Trust Advisors LP now owns 8,262,084 shares of the software maker’s stock worth $241,328,000 after buying an additional 119,163 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Open Text by 11.7% during 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 in the last quarter. Finally, Letko Brosseau & Associates Inc. increased its holdings in 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 in the last quarter. Institutional investors and hedge funds own 70.37% of the company’s stock.

Open Text Price Performance

Open Text stock opened at $24.48 on Thursday. The company has a 50-day moving average price of $28.79 and a 200 day moving average price of $33.00. Open Text Corporation has a 12-month low of $22.44 and a 12-month high of $39.90. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.57. The stock has a market cap of $6.13 billion, a P/E ratio of 14.40 and a beta of 1.08.

Open Text (NASDAQ:OTEX) (TSE:OTC) last released its quarterly earnings data on Thursday, February 5th. The software maker reported $1.13 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the prior year, the firm posted $1.11 earnings per share. The firm’s quarterly revenue was down .6% on a year-over-year basis. Sell-side analysts anticipate that Open Text Corporation will post 3.45 earnings per share for the current year.

Open Text Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on OTEX. Barclays reduced their price target on shares of Open Text from $39.00 to $30.00 and set an “equal weight” rating for the company in a research report on Friday, February 6th. Citigroup reduced their target price on Open Text from $36.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, February 6th. Zacks Research lowered Open Text from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Raymond James Financial reduced their price objective on Open Text from $48.00 to $42.00 and set an “outperform” rating for the company in a research note on Friday, February 6th. Finally, Canadian Imperial Bank of Commerce decreased their price objective on Open Text from $40.00 to $37.00 and set a “neutral” rating on the stock in a report on Friday, January 16th. Three analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $35.75.

Open Text Company Profile

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.