Open Text Corporation (NASDAQ:OTEX) Announces $0.28 Quarterly Dividend

Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) announced a quarterly dividend on Wednesday, November 5th. Stockholders of record on Friday, December 5th will be paid a dividend of 0.275 per share by the software maker on Friday, December 19th. This represents a c) dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, December 5th.

Open Text has decreased its dividend payment by an average of 0.1%per year over the last three years. Open Text has a payout ratio of 26.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Open Text to earn $3.78 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 29.1%.

Open Text Trading Up 2.2%

NASDAQ:OTEX opened at $38.02 on Thursday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.61. Open Text has a 12 month low of $22.79 and a 12 month high of $39.90. The company has a market cap of $9.58 billion, a PE ratio of 23.04 and a beta of 1.14. The company has a 50 day simple moving average of $37.15 and a two-hundred day simple moving average of $31.72.

Open Text (NASDAQ:OTEX) (TSE:OTC) last posted its quarterly earnings data on Thursday, August 7th. The software maker reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.11. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Open Text had a return on equity of 22.52% and a net margin of 8.43%.Open Text’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.98 earnings per share. Research analysts forecast that Open Text will post 3.45 earnings per share for the current year.

Hedge Funds Weigh In On Open Text

Several institutional investors have recently bought and sold shares of the stock. Savant Capital LLC purchased a new position in Open Text during the third quarter valued at $212,000. Envestnet Asset Management Inc. grew its stake in Open Text by 12.2% during the third quarter. Envestnet Asset Management Inc. now owns 110,214 shares of the software maker’s stock valued at $4,120,000 after acquiring an additional 12,014 shares in the last quarter. Hantz Financial Services Inc. grew its stake in Open Text by 3.8% during the third quarter. Hantz Financial Services Inc. now owns 38,389 shares of the software maker’s stock valued at $1,435,000 after acquiring an additional 1,394 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Open Text by 8.7% in the third quarter. Allianz Asset Management GmbH now owns 94,406 shares of the software maker’s stock worth $3,530,000 after purchasing an additional 7,586 shares during the last quarter. Finally, Access Investment Management LLC increased its holdings in shares of Open Text by 0.3% in the third quarter. Access Investment Management LLC now owns 199,835 shares of the software maker’s stock worth $7,470,000 after purchasing an additional 590 shares during the last quarter. 70.37% of the stock is owned by hedge funds and other institutional investors.

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.