Moloney Securities Asset Management LLC Lowers Holdings in Open Text Co. (NASDAQ:OTEX)

Moloney Securities Asset Management LLC reduced its position in shares of Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 79.6% during the 4th quarter, HoldingsChannel reports. The firm owned 16,445 shares of the software maker’s stock after selling 63,983 shares during the period. Moloney Securities Asset Management LLC’s holdings in Open Text were worth $466,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wilmington Savings Fund Society FSB grew its position in shares of Open Text by 15.2% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 17,253 shares of the software maker’s stock worth $489,000 after buying an additional 2,270 shares in the last quarter. Vest Financial LLC purchased a new stake in Open Text in the fourth quarter worth about $267,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Open Text during the 4th quarter worth about $2,810,000. Choreo LLC bought a new position in Open Text during the 4th quarter worth about $564,000. Finally, Blue Trust Inc. increased its position in Open Text by 40.8% during the 4th quarter. Blue Trust Inc. now owns 1,373 shares of the software maker’s stock valued at $39,000 after purchasing an additional 398 shares during the period. 70.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada dropped their price objective on shares of Open Text from $33.00 to $31.00 and set a “sector perform” rating on the stock in a research note on Friday. Barclays increased their target price on Open Text from $34.00 to $36.00 and gave the company an “equal weight” rating in a research report on Friday. BMO Capital Markets reduced their price target 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. TD Securities dropped their price objective on Open Text from $38.00 to $35.00 and set a “buy” rating on the stock in a research report on Sunday. Finally, StockNews.com downgraded shares of Open Text from a “strong-buy” rating to a “buy” rating in a report on Monday, January 27th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $35.18.

Open Text Price Performance

Shares of NASDAQ OTEX opened at $28.89 on Tuesday. Open Text Co. has a fifty-two week low of $26.84 and a fifty-two week high of $41.96. The company has a market cap of $7.62 billion, a PE ratio of 11.74 and a beta of 1.12. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.79 and a current ratio of 0.79. The business has a 50-day simple moving average of $28.85 and a two-hundred day simple moving average of $30.61.

Open Text (NASDAQ:OTEX) (TSE:OTC) last released its earnings results on Thursday, February 6th. The software maker reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.10. Open Text had a net margin of 12.21% and a return on equity of 23.33%. As a group, equities analysts expect that Open Text Co. will post 3.37 EPS for the current fiscal year.

Open Text Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be issued a dividend of $0.2625 per share. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Open Text’s previous quarterly dividend of $0.26. This represents a $1.05 dividend on an annualized basis and a dividend yield of 3.63%. Open Text’s payout ratio is 42.68%.

Open Text 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.