Open Text Co. (NASDAQ:OTEX) Shares Purchased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP boosted its position in Open Text Co. (NASDAQ:OTEX – Get Rating) (TSE:OTC) by 38.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 582,751 shares of the software maker’s stock after buying an additional 161,089 shares during the quarter. Dimensional Fund Advisors LP owned 0.22% of Open Text worth $15,408,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in OTEX. FMR LLC lifted its holdings in Open Text by 6.6% in the 2nd quarter. FMR LLC now owns 14,538,858 shares of the software maker’s stock worth $549,985,000 after buying an additional 899,891 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Open Text by 120.5% during the 1st quarter. Renaissance Technologies LLC now owns 1,201,716 shares of the software maker’s stock valued at $51,001,000 after buying an additional 656,800 shares during the last quarter. Fiera Capital Corp grew its position in shares of Open Text by 13.4% during the 2nd quarter. Fiera Capital Corp now owns 5,371,524 shares of the software maker’s stock valued at $203,258,000 after buying an additional 636,804 shares during the last quarter. Letko Brosseau & Associates Inc. grew its position in shares of Open Text by 18.2% during the 2nd quarter. Letko Brosseau & Associates Inc. now owns 2,386,548 shares of the software maker’s stock valued at $90,082,000 after buying an additional 368,150 shares during the last quarter. Finally, Bank of Nova Scotia grew its position in shares of Open Text by 17.2% during the 2nd quarter. Bank of Nova Scotia now owns 2,368,013 shares of the software maker’s stock valued at $89,571,000 after buying an additional 347,224 shares during the last quarter. Institutional investors and hedge funds own 63.93% of the company’s stock.

Open Text Stock Performance

NASDAQ:OTEX opened at $35.02 on Thursday. Open Text Co. has a 1 year low of $24.91 and a 1 year high of $44.10. The firm’s fifty day simple moving average is $33.46 and its 200 day simple moving average is $30.53. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $9.47 billion, a PE ratio of 29.43 and a beta of 1.04.

Open Text Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Investors of record on Friday, March 3rd will be paid a $0.243 dividend. The ex-dividend date of this dividend is Thursday, March 2nd. This represents a $0.97 dividend on an annualized basis and a yield of 2.78%. Open Text’s payout ratio is presently 81.51%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on OTEX shares. Citigroup increased their price objective on shares of Open Text from $33.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, February 6th. StockNews.com raised shares of Open Text from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 6th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Open Text has an average rating of “Moderate Buy” and an average price target of $44.71.

Open Text Company Profile

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Open Text Corp. engages in the design, development, marketing and sales of enterprise information management software and solutions. It includes customer experience management (CEM), digital process automation, business network, and enterprise content management, discovery, security, and artificial intelligence (AI) and analytics solutions.