Dimensional Fund Advisors LP Has $92.12 Million Stake in Open Text Corporation $OTEX

Dimensional Fund Advisors LP increased its position in Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) by 24.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,142,610 shares of the software maker’s stock after purchasing an additional 802,276 shares during the period. Dimensional Fund Advisors LP’s holdings in Open Text were worth $92,120,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of OTEX. Tidal Investments LLC grew its holdings in shares of Open Text by 2.6% during the second quarter. Tidal Investments LLC now owns 18,059 shares of the software maker’s stock valued at $527,000 after buying an additional 460 shares during the last quarter. WealthCollab LLC lifted its position in Open Text by 39.5% in the 2nd quarter. WealthCollab LLC now owns 1,640 shares of the software maker’s stock valued at $48,000 after acquiring an additional 464 shares in the last quarter. Vident Advisory LLC boosted its stake in Open Text by 3.7% during the 4th quarter. Vident Advisory LLC now owns 15,715 shares of the software maker’s stock valued at $512,000 after purchasing an additional 555 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Open Text by 39.7% in the second quarter. EverSource Wealth Advisors LLC now owns 2,005 shares of the software maker’s stock worth $59,000 after purchasing an additional 570 shares during the last quarter. Finally, State of Tennessee Department of Treasury boosted its position in shares of Open Text by 0.4% during the fourth quarter. State of Tennessee Department of Treasury now owns 147,862 shares of the software maker’s stock valued at $4,817,000 after buying an additional 584 shares during the last quarter. Institutional investors and hedge funds own 70.37% of the company’s stock.

Wall Street Analysts Forecast Growth

OTEX has been the topic of several recent analyst reports. Barclays raised their price objective on Open Text from $25.00 to $27.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Scotia dropped their price target on shares of Open Text from $50.00 to $40.00 and set a “sector outperform” rating on the stock in a research report on Friday, May 8th. National Bank Financial cut their price target on shares of Open Text from $45.00 to $33.00 and set an “outperform” rating on the stock in a report on Wednesday, May 27th. UBS Group set a $25.00 price objective on shares of Open Text in a research note on Friday, May 8th. Finally, Citigroup cut their target price on Open Text from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, May 8th. Four analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $33.67.

Open Text Trading Up 4.4%

NASDAQ:OTEX opened at $25.88 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $6.27 billion, a PE ratio of 12.62 and a beta of 1.04. The firm’s 50 day moving average is $22.74 and its 200 day moving average is $23.87. Open Text Corporation has a 12 month low of $19.77 and a 12 month high of $39.90.

Open Text (NASDAQ:OTEX) (TSE:OTC) last announced its quarterly earnings data on Thursday, May 7th. The software maker reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.07. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.26 billion. Open Text had a return on equity of 24.77% and a net margin of 9.91%.Open Text’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.82 earnings per share. Sell-side analysts expect that Open Text Corporation will post 4.05 earnings per share for the current year.

Open Text Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 19th. Shareholders of record on Friday, June 5th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Friday, June 5th. Open Text’s dividend payout ratio (DPR) is currently 53.66%.

Open Text Profile

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.