Value Partners Investments Inc. Increases Holdings in Open Text Corporation $OTEX

Value Partners Investments Inc. raised its position in Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) by 9.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 2,561,601 shares of the software maker’s stock after buying an additional 228,062 shares during the period. Open Text comprises approximately 5.8% of Value Partners Investments Inc.’s holdings, making the stock its 2nd largest holding. Value Partners Investments Inc. owned about 1.00% of Open Text worth $74,709,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Vident Advisory LLC boosted its position in Open Text by 6.6% in the 1st quarter. Vident Advisory LLC now owns 11,681 shares of the software maker’s stock valued at $295,000 after buying an additional 722 shares during the last quarter. Versant Capital Management Inc bought a new position in Open Text in the 1st quarter valued at $26,000. Parallel Advisors LLC boosted its position in Open Text by 219.3% in the 1st quarter. Parallel Advisors LLC now owns 1,938 shares of the software maker’s stock valued at $49,000 after buying an additional 1,331 shares during the last quarter. Raymond James Financial Inc. boosted its position in shares of Open Text by 1.4% in the 1st quarter. Raymond James Financial Inc. now owns 127,887 shares of the software maker’s stock worth $3,230,000 after purchasing an additional 1,757 shares during the last quarter. Finally, Alps Advisors Inc. boosted its position in shares of Open Text by 5.8% in the 1st quarter. Alps Advisors Inc. now owns 33,109 shares of the software maker’s stock worth $836,000 after purchasing an additional 1,807 shares during the last quarter. 70.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on OTEX shares. Barclays restated a “positive” rating on shares of Open Text in a research report on Friday, August 8th. Wall Street Zen upgraded Open Text from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Scotiabank raised their price target on Open Text from $30.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 12th. CIBC restated a “neutral” rating on shares of Open Text in a research report on Monday, August 11th. Finally, Jefferies Financial Group lowered Open Text from a “buy” rating to a “hold” rating and set a $33.00 price target on the stock. in a research report on Tuesday, August 12th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Open Text presently has a consensus rating of “Hold” and an average price target of $33.10.

Open Text Stock Performance

Shares of Open Text stock opened at $35.68 on Friday. The company has a market capitalization of $9.07 billion, a PE ratio of 21.62 and a beta of 1.16. Open Text Corporation has a 12 month low of $22.79 and a 12 month high of $35.96. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.61. The stock’s fifty day simple moving average is $30.95 and its 200 day simple moving average is $28.33.

Open Text (NASDAQ:OTEX) (TSE:OTC) last issued its quarterly earnings data on Thursday, August 7th. The software maker reported $0.97 EPS for the quarter, topping the consensus estimate of $0.86 by $0.11. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.30 billion. Open Text had a return on equity of 22.52% and a net margin of 8.43%.The firm’s revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. On average, research analysts predict that Open Text Corporation will post 3.45 EPS for the current year.

Open Text Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.10 annualized dividend and a dividend yield of 3.1%. This is a positive change from Open Text’s previous quarterly dividend of $0.26. Open Text’s dividend payout ratio (DPR) is 66.67%.

Open Text Company 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.