Signaturefd LLC Has $796,000 Stock Holdings in Open Text Co. (NASDAQ:OTEX)

Signaturefd LLC lowered its holdings in shares of Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 3.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,948 shares of the software maker’s stock after selling 754 shares during the period. Signaturefd LLC’s holdings in Open Text were worth $796,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the business. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Open Text in the third quarter worth about $49,856,000. Legal & General Group Plc boosted its position in Open Text by 48.4% in the third quarter. Legal & General Group Plc now owns 1,606,093 shares of the software maker’s stock valued at $56,627,000 after buying an additional 524,009 shares in the last quarter. Value Partners Investments Inc. grew its stake in shares of Open Text by 16.3% during the fourth quarter. Value Partners Investments Inc. now owns 2,046,243 shares of the software maker’s stock worth $85,983,000 after buying an additional 286,766 shares during the last quarter. Intact Investment Management Inc. increased its holdings in shares of Open Text by 22.4% during the third quarter. Intact Investment Management Inc. now owns 1,314,880 shares of the software maker’s stock worth $46,146,000 after buying an additional 240,550 shares in the last quarter. Finally, Cooke & Bieler LP lifted its stake in shares of Open Text by 4.2% in the 4th quarter. Cooke & Bieler LP now owns 4,767,848 shares of the software maker’s stock valued at $200,345,000 after acquiring an additional 191,292 shares during the last quarter. 70.37% of the stock is owned by institutional investors and hedge funds.

Open Text Trading Up 1.1 %

NASDAQ:OTEX opened at $35.45 on Tuesday. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market cap of $9.66 billion, a P/E ratio of 75.43 and a beta of 1.09. Open Text Co. has a 1 year low of $32.04 and a 1 year high of $45.47. The stock’s fifty day moving average price is $38.10 and its two-hundred day moving average price is $38.76.

Open Text (NASDAQ:OTEX) (TSE:OTC) last posted its quarterly earnings data on Thursday, February 1st. The software maker reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.01. Open Text had a net margin of 2.24% and a return on equity of 22.99%. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.48 billion. As a group, analysts expect that Open Text Co. will post 4.14 EPS for the current year.

Open Text Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Friday, March 1st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.00 annualized dividend and a yield of 2.82%. Open Text’s payout ratio is currently 212.77%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. BMO Capital Markets upped their target price on Open Text from $48.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Jefferies Financial Group started coverage on shares of Open Text in a report on Tuesday, February 27th. They issued a “buy” rating and a $45.00 price objective for the company. Citigroup reduced their target price on shares of Open Text from $44.00 to $42.00 and set a “neutral” rating on the stock in a report on Friday, March 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $53.00 price target on shares of Open Text in a research note on Friday, February 2nd. Finally, TD Securities boosted their price objective on shares of Open Text from $53.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.25.

Open Text Company Profile

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.