TD Waterhouse Canada Inc. Acquires 35,717 Shares of Open Text Corporation $OTEX

TD Waterhouse Canada Inc. boosted its holdings in shares of Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) by 3.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 960,681 shares of the software maker’s stock after buying an additional 35,717 shares during the quarter. TD Waterhouse Canada Inc. owned approximately 0.38% of Open Text worth $35,654,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Sagard Holdings Management Inc. purchased a new stake in shares of Open Text in the 2nd quarter worth $30,000. MAI Capital Management increased its holdings in Open Text by 58.7% in the 2nd quarter. MAI Capital Management now owns 1,595 shares of the software maker’s stock worth $47,000 after acquiring an additional 590 shares in the last quarter. Cromwell Holdings LLC raised its stake in Open Text by 27.4% during the 2nd quarter. Cromwell Holdings LLC now owns 1,635 shares of the software maker’s stock worth $48,000 after acquiring an additional 352 shares during the period. WealthCollab LLC lifted its holdings in Open Text by 39.5% during the second quarter. WealthCollab LLC now owns 1,640 shares of the software maker’s stock valued at $48,000 after purchasing an additional 464 shares in the last quarter. Finally, Osaic Holdings Inc. increased its stake in shares of Open Text by 108.8% in the second quarter. Osaic Holdings Inc. now owns 1,798 shares of the software maker’s stock worth $52,000 after purchasing an additional 937 shares in the last quarter. 70.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

OTEX has been the topic of a number of analyst reports. Zacks Research cut shares of Open Text from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Jefferies Financial Group upped their target price on shares of Open Text from $33.00 to $35.00 and gave the stock a “hold” rating in a research report on Thursday, November 6th. Citigroup reduced their price target on shares of Open Text from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 23rd. UBS Group boosted their price objective on Open Text from $32.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, November 7th. Finally, Royal Bank Of Canada reduced their price objective on shares of Open Text from $35.00 to $33.00 and set a “sector perform” rating on the stock in a research report on Monday. Three investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $38.83.

Open Text Trading Down 3.7%

Shares of NASDAQ:OTEX opened at $27.38 on Thursday. The business’s 50-day moving average is $32.36 and its 200 day moving average is $33.66. The firm has a market capitalization of $6.89 billion, a P/E ratio of 14.34 and a beta of 1.08. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.87 and a quick ratio of 0.87. Open Text Corporation has a 1 year low of $22.79 and a 1 year high of $39.90.

Open Text (NASDAQ:OTEX) (TSE:OTC) last announced its quarterly earnings data on Wednesday, November 5th. The software maker reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.05. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.27 billion. Open Text had a return on equity of 23.44% and a net margin of 9.60%.The company’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.93 earnings per share. On average, research analysts predict that Open Text Corporation will post 3.45 earnings per share for the current fiscal year.

Open Text Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.0%. Open Text’s payout ratio is currently 57.59%.

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.