Open Text Co. (NASDAQ:OTEX) Shares Sold by Alphasimplex Group LLC

Alphasimplex Group LLC lessened its holdings in Open Text Co. (NASDAQ:OTEXGet Rating) (TSE:OTC) by 39.7% 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 4,251 shares of the software maker’s stock after selling 2,803 shares during the quarter. Alphasimplex Group LLC’s holdings in Open Text were worth $202,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its holdings in Open Text by 15.1% in the fourth quarter. Russell Investments Group Ltd. now owns 413,582 shares of the software maker’s stock worth $19,655,000 after purchasing an additional 54,339 shares during the period. Wellington Management Group LLP boosted its holdings in Open Text by 309.5% in the third quarter. Wellington Management Group LLP now owns 60,445 shares of the software maker’s stock worth $2,950,000 after purchasing an additional 45,684 shares during the period. Man Group plc boosted its holdings in Open Text by 51.6% in the third quarter. Man Group plc now owns 986,463 shares of the software maker’s stock worth $48,137,000 after purchasing an additional 335,903 shares during the period. PCJ Investment Counsel Ltd. boosted its holdings in Open Text by 36.2% in the fourth quarter. PCJ Investment Counsel Ltd. now owns 65,020 shares of the software maker’s stock worth $3,089,000 after purchasing an additional 17,270 shares during the period. Finally, Hillsdale Investment Management Inc. boosted its holdings in Open Text by 8.6% in the fourth quarter. Hillsdale Investment Management Inc. now owns 46,407 shares of the software maker’s stock worth $2,205,000 after purchasing an additional 3,685 shares during the period. 70.43% of the stock is owned by hedge funds and other institutional investors.

OTEX stock traded up $1.48 during trading on Friday, hitting $36.98. The company had a trading volume of 543,249 shares, compared to its average volume of 568,742. Open Text Co. has a fifty-two week low of $35.04 and a fifty-two week high of $55.25. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $10.00 billion, a price-to-earnings ratio of 21.25 and a beta of 0.93. The business has a 50 day moving average of $41.33 and a 200 day moving average of $45.11.

Open Text (NASDAQ:OTEXGet Rating) (TSE:OTC) last issued its quarterly earnings results on Wednesday, May 4th. The software maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Open Text had a net margin of 13.66% and a return on equity of 20.16%. The company had revenue of $882.30 million during the quarter, compared to the consensus estimate of $883.76 million. During the same period in the prior year, the company earned $0.70 EPS. Open Text’s revenue was up 5.9% on a year-over-year basis. As a group, equities analysts predict that Open Text Co. will post 3.04 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 24th. Shareholders of record on Friday, June 3rd will be issued a $0.2209 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Thursday, June 2nd. Open Text’s payout ratio is 50.57%.

Several equities analysts have recently issued reports on OTEX shares. BMO Capital Markets reduced their price target on shares of Open Text from C$58.00 to C$53.00 in a report on Friday, February 4th. StockNews.com started coverage on shares of Open Text in a report on Thursday, March 31st. They set a “strong-buy” rating for the company. Royal Bank of Canada reduced their price target on shares of Open Text from $62.00 to $52.00 and set an “outperform” rating for the company in a report on Thursday, May 5th. Zacks Investment Research downgraded shares of Open Text from a “hold” rating to a “sell” rating in a report on Friday. Finally, Raymond James set a $60.00 price objective on shares of Open Text and gave the stock an “outperform” rating in a report on Thursday, May 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $53.50.

Open Text Profile (Get Rating)

Open Text Corporation engages in the designs, develops, markets, and sells information management software and solutions. It offers content services; business network that manages data within the organization and outside the firewall; security and protection solutions for defending against cyber threats, and preparing for business continuity and response in the event of a breach; digital investigation and forensic security solutions; OpenText security solutions to address information cyber resilience needs; Carbonite and Webroot products; and OpenText Information Management software platform.

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Institutional Ownership by Quarter for Open Text (NASDAQ:OTEX)

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