Schroder Investment Management Group lowered its stake in shares of Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) by 4.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,369,406 shares of the software maker’s stock after selling 59,500 shares during the quarter. Schroder Investment Management Group owned 0.52% of Open Text Corporation worth $55,351,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in OTEX. Meadow Creek Investment Management LLC grew its stake in Open Text Corporation by 99.0% in the 1st quarter. Meadow Creek Investment Management LLC now owns 3,088 shares of the software maker’s stock valued at $105,000 after purchasing an additional 1,536 shares during the period. Neuburgh Advisers LLC grew its stake in Open Text Corporation by 99.0% in the 1st quarter. Neuburgh Advisers LLC now owns 4,246 shares of the software maker’s stock valued at $144,000 after purchasing an additional 2,112 shares during the period. Wells Fargo & Company MN grew its stake in Open Text Corporation by 91.9% in the 1st quarter. Wells Fargo & Company MN now owns 4,790 shares of the software maker’s stock valued at $163,000 after purchasing an additional 2,294 shares during the period. Tyers Asset Management LLC lifted its position in shares of Open Text Corporation by 99.0% during the 1st quarter. Tyers Asset Management LLC now owns 5,404 shares of the software maker’s stock valued at $184,000 after buying an additional 2,688 shares during the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. lifted its position in shares of Open Text Corporation by 100.0% during the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 6,200 shares of the software maker’s stock valued at $210,000 after buying an additional 3,100 shares during the last quarter. Institutional investors and hedge funds own 66.28% of the company’s stock.
A number of research analysts have recently commented on the company. BidaskClub raised Open Text Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $40.00 price target on shares of Open Text Corporation in a research report on Wednesday, July 12th. Zacks Investment Research raised Open Text Corporation from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Barclays PLC upped their price target on Open Text Corporation from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, August 4th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $40.00 price objective on shares of Open Text Corporation in a report on Friday, August 4th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $42.11.
Shares of Open Text Corporation (NASDAQ:OTEX) opened at 32.24 on Friday. The company’s 50-day moving average price is $32.43 and its 200-day moving average price is $32.92. Open Text Corporation has a one year low of $29.30 and a one year high of $35.21. The stock has a market cap of $8.48 billion, a PE ratio of 8.04 and a beta of 0.48.
Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) last released its quarterly earnings results on Thursday, August 3rd. The software maker reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.07). The firm had revenue of $663.60 million for the quarter, compared to analysts’ expectations of $662.36 million. Open Text Corporation had a net margin of 44.77% and a return on equity of 8.92%. The firm’s quarterly revenue was up 37.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.45 EPS. Equities research analysts anticipate that Open Text Corporation will post $2.48 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 1st will be given a dividend of $0.132 per share. This represents a $0.53 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Wednesday, August 30th. Open Text Corporation’s payout ratio is presently 12.74%.
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Open Text Corporation Company Profile
Open Text Corporation provides a platform and suite of software products and services that assist organizations in finding, utilizing, and sharing business information from any device. The Company designs, develops, markets and sells Enterprise Information Management (EIM) software and solutions. Its EIM offerings include Enterprise Content Management (ECM), Business Process Management (BPM), Customer Experience Management (CEM), Business Network, Discovery and Analytics.
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