2 weeks Ago By Defense World Staff
Brandes Investment Partners LP lifted its holdings in shares of Open Text Co. ( NASDAQ:OTEX – Free Report ) (TSE:OTC) by 236.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission.
The firm owned 1,834,835 shares of the software maker’s stock after buying an additional 1,290,011 shares during the period. Brandes Investment Partners LP owned approximately 0.68% of Open Text worth $55,059,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Optiver Holding B.V.
bought a new stake in shares of Open Text during the 4th quarter worth about $27,000. Ridgewood Investments LLC bought a new position in Open Text during the second quarter valued at about $30,000. Headlands Technologies LLC acquired a new position in Open Text during the first quarter worth about $32,000.
Kimelman & Baird LLC bought a new stake in Open Text in the second quarter worth about $36,000. Finally, Assetmark Inc. bought a new position in shares of Open Text during the 4th quarter valued at about $48,000.
70.37% of the stock is owned by institutional investors. Wall Street Analysts Forecast Growth A number of research firms have commented on OTEX.
National Bank Financial lowered shares of Open Text from an “outperform” rating to a “sector perform” rating in a research note on Friday, August 2nd. Jefferies Financial Group cut their price target on Open Text from $42.00 to $35.
00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Barclays lowered their price target on Open Text from $38.00 to $36.
00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. Citigroup raised their price objective on shares of Open Text from $32.00 to $34.
00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Finally, National Bankshares downgraded shares of Open Text from an “outperform” rating to a “sector perform” rating and set a $38.00 target price for the company.
in a research report on Friday, August 2nd. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Open Text currently has a consensus rating of “Hold” and a consensus price target of $38.
80. Open Text Price Performance Shares of Open Text stock opened at $33.09 on Monday.
Open Text Co. has a 1-year low of $27.50 and a 1-year high of $45.
47. The firm has a fifty day simple moving average of $31.59 and a 200-day simple moving average of $32.
39. The company has a current ratio of 0.81, a quick ratio of 0.
81 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $8.
93 billion, a price-to-earnings ratio of 53.37 and a beta of 1.11.
Open Text ( NASDAQ:OTEX – Get Free Report ) (TSE:OTC) last released its quarterly earnings results on Thursday, August 1st. The software maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.
93 by $0.05. The company had revenue of $1.
36 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Open Text had a net margin of 8.
06% and a return on equity of 25.00%. The business’s quarterly revenue was down 8.
6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.79 earnings per share.
On average, sell-side analysts expect that Open Text Co. will post 3.23 earnings per share for the current year.
Open Text Cuts Dividend The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were issued a $0.192 dividend.
This represents a $0.77 dividend on an annualized basis and a yield of 2.32%.
The ex-dividend date was Friday, August 30th. Open Text’s dividend payout ratio (DPR) is currently 169.35%.
About Open Text ( 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 Five stocks we like better than Open Text Biggest Stock Losers – Today’s Biggest Percentage Decliners 3 Bargain Stocks Under $20 With Major Growth Potential The 3 Best Blue-Chip Stocks to Buy Now Top 5 ETFs to Own Now and Into 2025 REIT Stocks – Best REIT Stocks to Add to Your Portfolio Today Watch These 3 Former Short-Squeeze Stocks for a Big Rally 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.
com's FREE daily email newsletter ..
