AustralianSuper Pty Ltd Purchases 57,363 Shares of Open Text Co. (NASDAQ:OTEX)

AustralianSuper Pty Ltd raised its position in Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 23.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 298,046 shares of the software maker’s stock after buying an additional 57,363 shares during the period. AustralianSuper Pty Ltd’s holdings in Open Text were worth $8,424,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its position in shares of Open Text by 1.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 18,872 shares of the software maker’s stock worth $629,000 after purchasing an additional 322 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Open Text by 3.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,093 shares of the software maker’s stock worth $369,000 after purchasing an additional 351 shares during the last quarter. Cromwell Holdings LLC boosted its position in shares of Open Text by 29.6% in the 3rd quarter. Cromwell Holdings LLC now owns 1,663 shares of the software maker’s stock worth $55,000 after purchasing an additional 380 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Open Text by 40.8% in the 4th quarter. Blue Trust Inc. now owns 1,373 shares of the software maker’s stock worth $39,000 after purchasing an additional 398 shares during the last quarter. Finally, DGS Capital Management LLC boosted its position in shares of Open Text by 2.0% in the 4th quarter. DGS Capital Management LLC now owns 26,477 shares of the software maker’s stock worth $750,000 after purchasing an additional 530 shares during the last quarter. 70.37% of the stock is currently owned by institutional investors.

Open Text Stock Performance

OTEX opened at $28.41 on Friday. The business’s 50-day moving average price is $28.66 and its two-hundred day moving average price is $30.55. Open Text Co. has a 1 year low of $26.84 and a 1 year high of $40.69. The company has a market capitalization of $7.49 billion, a price-to-earnings ratio of 11.55 and a beta of 1.12. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.79 and a quick ratio of 0.79.

Open Text (NASDAQ:OTEX) (TSE:OTC) last released its earnings results on Thursday, February 6th. The software maker reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.10. Open Text had a return on equity of 23.33% and a net margin of 12.21%. 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 announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be given a $0.2625 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.05 dividend on an annualized basis and a dividend yield of 3.70%. This is an increase from Open Text’s previous quarterly dividend of $0.26. Open Text’s payout ratio is currently 42.68%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on OTEX. Citigroup raised their price target on Open Text from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. StockNews.com downgraded Open Text from a “strong-buy” rating to a “buy” rating in a research note on Monday, January 27th. UBS Group started coverage on Open Text in a research note on Tuesday, December 17th. They set a “neutral” rating and a $32.00 price objective on the stock. Barclays raised their price objective on Open Text from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Finally, Royal Bank of Canada dropped their price objective on Open Text from $33.00 to $31.00 and set a “sector perform” rating on the stock in a research note on Friday, February 7th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Open Text has an average rating of “Hold” and a consensus target price of $35.18.

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.