Open Text Co. (NASDAQ:OTEX) Shares Sold by Centaurus Financial Inc.

Centaurus Financial Inc. cut its holdings in shares of Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 3.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,432 shares of the software maker’s stock after selling 928 shares during the period. Centaurus Financial Inc.’s holdings in Open Text were worth $979,000 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. Assenagon Asset Management S.A. increased its stake in Open Text by 1.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 18,872 shares of the software maker’s stock valued at $629,000 after buying an additional 322 shares during the period. Cromwell Holdings LLC increased its stake in shares of Open Text by 29.6% during the third quarter. Cromwell Holdings LLC now owns 1,663 shares of the software maker’s stock valued at $55,000 after acquiring an additional 380 shares during the period. Blue Trust Inc. raised its holdings in Open Text by 435.7% during the third quarter. Blue Trust Inc. now owns 975 shares of the software maker’s stock worth $32,000 after purchasing an additional 793 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Open Text by 5.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 17,436 shares of the software maker’s stock worth $524,000 after purchasing an additional 874 shares during the period. Finally, Ridgewood Investments LLC bought a new position in Open Text during the 2nd quarter valued at $30,000. 70.37% of the stock is owned by institutional investors.

Open Text Stock Performance

Shares of Open Text stock opened at $30.28 on Tuesday. The business has a fifty day simple moving average of $31.89 and a 200-day simple moving average of $31.02. The stock has a market cap of $8.05 billion, a PE ratio of 17.50 and a beta of 1.13. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.54. Open Text Co. has a 12 month low of $27.50 and a 12 month high of $45.47.

Open Text (NASDAQ:OTEX) (TSE:OTC) last issued its earnings results on Thursday, October 31st. The software maker reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.13. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.28 billion. Open Text had a return on equity of 24.34% and a net margin of 8.35%. The firm’s quarterly revenue was down 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 EPS. On average, sell-side analysts anticipate that Open Text Co. will post 3.37 EPS for the current fiscal year.

Open Text Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 29th will be issued a dividend of $0.262 per share. This represents a $1.05 annualized dividend and a dividend yield of 3.46%. This is a positive change from Open Text’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, November 29th. Open Text’s dividend payout ratio (DPR) is currently 60.69%.

Wall Street Analyst Weigh In

OTEX has been the topic of a number of research reports. TD Securities dropped their price objective on Open Text from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Citigroup lowered their price objective on shares of Open Text from $34.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Jefferies Financial Group cut their target price on shares of Open Text from $42.00 to $35.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Royal Bank of Canada lowered shares of Open Text from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $45.00 to $33.00 in a research report on Friday, November 1st. Finally, BMO Capital Markets cut their price objective on Open Text from $33.00 to $32.00 and set a “market perform” rating for the company in a research report on Friday, November 1st. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $35.90.

About Open Text

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.