Open Text Corporation $OTEX Shares Bought by Sei Investments Co.

Sei Investments Co. boosted its stake in shares of Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) by 47.3% during the 1st quarter, Holdings Channel reports. The firm owned 255,601 shares of the software maker’s stock after acquiring an additional 82,049 shares during the quarter. Sei Investments Co.’s holdings in Open Text were worth $5,684,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Brandes Investment Partners LP grew its holdings in shares of Open Text by 1.2% during the fourth quarter. Brandes Investment Partners LP now owns 9,106,157 shares of the software maker’s stock valued at $296,679,000 after buying an additional 106,766 shares during the last quarter. Value Partners Investments Inc. raised its stake in Open Text by 30.0% in the 1st quarter. Value Partners Investments Inc. now owns 2,413,989 shares of the software maker’s stock worth $53,687,000 after acquiring an additional 556,534 shares during the last quarter. Montrusco Bolton Investments Inc. purchased a new position in Open Text in the 4th quarter worth $7,140,000. Swiss National Bank lifted its position in Open Text by 26.5% during the 1st quarter. Swiss National Bank now owns 848,200 shares of the software maker’s stock worth $18,874,000 after acquiring an additional 177,700 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Open Text by 24.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,142,610 shares of the software maker’s stock valued at $92,120,000 after purchasing an additional 802,276 shares during the last quarter. Institutional investors and hedge funds own 70.37% of the company’s stock.

Open Text Price Performance

Shares of OTEX opened at $26.42 on Wednesday. The business’s 50-day moving average is $22.93 and its two-hundred day moving average is $23.67. The company has a market capitalization of $6.40 billion, a P/E ratio of 12.89 and a beta of 1.03. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.94 and a current ratio of 0.94. Open Text Corporation has a fifty-two week low of $19.77 and a fifty-two week high of $39.90.

Open Text (NASDAQ:OTEX) (TSE:OTC) last issued its quarterly earnings data on Thursday, May 7th. The software maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.07. Open Text had a return on equity of 24.77% and a net margin of 9.91%.The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the firm posted $0.82 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. Research analysts predict that Open Text Corporation will post 4.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

OTEX has been the topic of a number of research reports. Scotiabank cut their price objective on Open Text from $50.00 to $40.00 and set a “sector outperform” rating on the stock in a report on Friday, May 8th. Raymond James Financial decreased their target price on Open Text from $42.00 to $35.00 and set an “outperform” rating for the company in a report on Friday, May 8th. Barclays upped their target price on Open Text from $25.00 to $27.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Open Text in a report on Wednesday, June 24th. Finally, Citigroup reduced their price target on shares of Open Text from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, May 8th. Four analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, Open Text presently has a consensus rating of “Hold” and an average target price of $33.67.

Open Text Profile

Open Text Corporation is a Canadian enterprise information management (EIM) software company that develops solutions for organizations seeking to manage, protect and extract insight from their unstructured and structured data. The company’s platform encompasses document management, records management, digital asset management and archiving, enabling companies to govern information across its lifecycle.

Open Text’s product suite includes content services, business process management, customer experience management, analytics and security products.