Signaturefd LLC Sells 3,560 Shares of Open Text Co. (NASDAQ:OTEX)

Signaturefd LLC reduced its position in Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 21.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,073 shares of the software maker’s stock after selling 3,560 shares during the quarter. Signaturefd LLC’s holdings in Open Text were worth $370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. IFP Advisors Inc boosted its position in shares of Open Text by 103.8% during the fourth quarter. IFP Advisors Inc now owns 1,011 shares of the software maker’s stock worth $29,000 after acquiring an additional 515 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Open Text by 40.8% during the fourth quarter. Blue Trust Inc. now owns 1,373 shares of the software maker’s stock worth $39,000 after acquiring an additional 398 shares during the last quarter. Allworth Financial LP boosted its position in shares of Open Text by 20.7% during the fourth quarter. Allworth Financial LP now owns 2,564 shares of the software maker’s stock worth $73,000 after acquiring an additional 439 shares during the last quarter. Plato Investment Management Ltd bought a new position in shares of Open Text during the fourth quarter worth $138,000. Finally, Asahi Life Asset Management CO. LTD. bought a new position in shares of Open Text during the fourth quarter worth $241,000. 70.37% of the stock is currently owned by institutional investors.

Open Text Trading Up 0.3 %

OTEX stock opened at $26.39 on Friday. The company has a market capitalization of $6.97 billion, a PE ratio of 10.73 and a beta of 1.17. Open Text Co. has a 12 month low of $24.86 and a 12 month high of $40.55. The firm’s 50-day moving average is $27.53 and its 200 day moving average is $29.74. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.87 and a quick ratio of 0.87.

Open Text (NASDAQ:OTEX) (TSE:OTC) last issued its earnings results on Thursday, February 6th. The software maker reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.10. Open Text had a net margin of 12.21% and a return on equity of 23.23%. On average, research analysts anticipate that Open Text Co. will post 3.45 EPS for the current year.

Open Text Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.2625 per share. This represents a $1.05 annualized dividend and a yield of 3.98%. This is a boost from Open Text’s previous quarterly dividend of $0.26. The ex-dividend date is Friday, March 7th. Open Text’s dividend payout ratio is presently 42.68%.

Analyst Upgrades and Downgrades

OTEX has been the subject of a number of research reports. Citigroup upped their target price on shares of Open Text from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Royal Bank of Canada decreased their price target 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, February 7th. Barclays upped their price target on shares of Open Text from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. StockNews.com downgraded shares of Open Text from a “strong-buy” rating to a “buy” rating in a research note on Monday, January 27th. Finally, UBS Group assumed coverage on shares of Open Text in a research note on Tuesday, December 17th. They set a “neutral” rating and a $32.00 price target on the stock. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target 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.