21 hours Ago By ABMN Staff
Cerity Partners LLC decreased its holdings in Open Text Co. ( NASDAQ:OTEX – Free Report ) (TSE:OTC) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission.
The firm owned 33,282 shares of the software maker’s stock after selling 1,025 shares during the period. Cerity Partners LLC’s holdings in Open Text were worth $969,000 at the end of the most recent reporting period. A number of other institutional investors have also added to or reduced their stakes in the stock.
Stifel Financial Corp purchased a new position in Open Text during the 3rd quarter valued at approximately $2,232,000. Choreo LLC purchased a new position in Open Text in the 4th quarter worth about $564,000. Franklin Resources Inc.
increased its position in shares of Open Text by 19.9% during the third quarter. Franklin Resources Inc.
now owns 205,891 shares of the software maker’s stock worth $7,086,000 after acquiring an additional 34,135 shares during the period. Canoe Financial LP raised its position in Open Text by 127.3% during the 4th quarter.
Canoe Financial LP now owns 150,000 shares of the software maker’s stock valued at $4,242,000 after purchasing an additional 84,000 shares in the last quarter. Finally, Wedge Capital Management L L P NC bought a new stake in shares of Open Text in the fourth quarter valued at about $2,372,000. 70.
37% of the stock is owned by hedge funds and other institutional investors. Open Text Stock Down 0.2 % OTEX stock opened at $25.
51 on Friday. The firm’s fifty day moving average is $26.00 and its 200 day moving average is $28.
63. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.
87 and a current ratio of 0.87. Open Text Co.
has a one year low of $22.79 and a one year high of $36.39.
The firm has a market cap of $6.70 billion, a PE ratio of 10.37 and a beta of 1.
13. Open Text Increases Dividend The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a dividend of $0.
2625 per share. This represents a $1.05 annualized dividend and a dividend yield of 4.
12%. This is a boost from Open Text’s previous quarterly dividend of $0.26.
The ex-dividend date was Friday, March 7th. Open Text’s payout ratio is presently 42.68%.
Wall Street Analysts Forecast Growth OTEX has been the subject of a number of analyst reports. Royal Bank of Canada lowered their target price on Open Text from $33.00 to $31.
00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Citigroup boosted their target price on shares of Open Text from $30.00 to $32.
00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. TD Securities reduced their price objective on Open Text from $38.00 to $35.
00 and set a “buy” rating for the company in a research note on Sunday, February 9th. Barclays upped their target price on Open Text from $34.00 to $36.
00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Finally, StockNews.com lowered shares of Open Text from a “strong-buy” rating to a “buy” rating in a research report on Monday, January 27th.
Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $35.18.
Read Our Latest Stock Analysis on Open Text Open Text Profile ( Free Report ) Open Text Corporation provides information management software and solutions. The company offers content services, which includes content collaboration and intelligent capture to records management, collaboration, e-signatures, and archiving; and operates experience cloud platform that provides customer experience and web content management, digital asset management, customer analytics, AI and insights, e-discovery, digital fax, omnichannel communications, secure messaging, and voice of customer, as well as customer journey, testing, and segmentation. Read More Want to see what other hedge funds are holding OTEX? Visit HoldingsChannel.
com to get the latest 13F filings and insider trades for Open Text Co. ( NASDAQ:OTEX – Free Report ) (TSE:OTC). Receive News & Ratings for Open Text Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Open Text and related companies with MarketBeat.
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