Swiss National Bank Purchases 177,700 Shares of Open Text Corporation $OTEX

Swiss National Bank boosted its position in Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) by 26.5% in the 1st quarter, HoldingsChannel reports. The firm owned 848,200 shares of the software maker’s stock after acquiring an additional 177,700 shares during the period. Swiss National Bank’s holdings in Open Text were worth $18,874,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its holdings in Open Text by 75.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,437,335 shares of the software maker’s stock valued at $36,307,000 after acquiring an additional 619,527 shares during the period. United Services Automobile Association acquired a new stake in Open Text during the first quarter worth approximately $213,000. EverSource Wealth Advisors LLC increased its holdings in Open Text by 39.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,005 shares of the software maker’s stock valued at $59,000 after buying an additional 570 shares during the period. Cerity Partners LLC increased its stake in shares of Open Text by 3.4% in the 2nd quarter. Cerity Partners LLC now owns 49,003 shares of the software maker’s stock valued at $1,431,000 after purchasing an additional 1,612 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its position in Open Text by 16.8% in the second quarter. Qube Research & Technologies Ltd now owns 46,500 shares of the software maker’s stock valued at $1,360,000 after acquiring an additional 6,700 shares during the last quarter. 70.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. UBS Group set a $25.00 price target on Open Text in a research note on Friday, May 8th. Raymond James Financial reduced their price objective on shares of Open Text from $42.00 to $35.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. Weiss Ratings reissued a “hold (c-)” rating on shares of Open Text in a research report on Wednesday, June 24th. Royal Bank Of Canada dropped their target price on shares of Open Text from $30.00 to $27.00 and set a “sector perform” rating on the stock in a research report on Friday, May 8th. Finally, Barclays increased their price target on Open Text from $25.00 to $27.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $33.67.

Open Text Stock Up 3.9%

Shares of NASDAQ:OTEX opened at $22.37 on Friday. Open Text Corporation has a 1 year low of $19.77 and a 1 year high of $39.90. The business has a fifty day moving average price of $22.64 and a two-hundred day moving average price of $24.09. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market capitalization of $5.42 billion, a PE ratio of 10.91 and a beta of 1.04.

Open Text (NASDAQ:OTEX) (TSE:OTC) last issued its quarterly earnings results on Thursday, May 7th. The software maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.07. Open Text had a net margin of 9.91% and a return on equity of 24.77%. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the business posted $0.82 EPS. Open Text’s quarterly revenue was up 2.2% compared to the same quarter last year. Analysts forecast that Open Text Corporation will post 4.05 earnings per share for the current year.

Open Text Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, June 5th were paid a $0.275 dividend. The ex-dividend date was Friday, June 5th. This represents a $1.10 annualized dividend and a dividend yield of 4.9%. Open Text’s dividend payout ratio (DPR) is presently 53.66%.

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.