Mn Services Vermogensbeheer B.V. Sells 4,800 Shares of Open Text Co. (NASDAQ:OTEX)

Mn Services Vermogensbeheer B.V. decreased its stake in shares of Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 3.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 124,040 shares of the software maker’s stock after selling 4,800 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Open Text were worth $5,239,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in OTEX. IFP Advisors Inc grew its position in shares of Open Text by 82.0% in the 3rd quarter. IFP Advisors Inc now owns 870 shares of the software maker’s stock valued at $31,000 after acquiring an additional 392 shares during the period. Pacifica Partners Inc. bought a new position in shares of Open Text in the fourth quarter valued at about $32,000. Allworth Financial LP lifted its stake in shares of Open Text by 125.7% during the 3rd quarter. Allworth Financial LP now owns 957 shares of the software maker’s stock worth $34,000 after buying an additional 533 shares during the last quarter. Impact Partnership Wealth LLC bought a new stake in shares of Open Text during the 3rd quarter worth about $37,000. Finally, Power Corp of Canada acquired a new position in Open Text in the 1st quarter valued at about $43,000. 70.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on OTEX. BMO Capital Markets increased their price target on shares of Open Text from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. TD Securities increased their price objective on shares of Open Text from $53.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $53.00 target price on shares of Open Text in a research report on Friday, February 2nd. CIBC upped their price objective on Open Text from $42.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. Finally, Jefferies Financial Group began coverage on shares of Open Text in a report on Tuesday, February 27th. They issued a “buy” rating and a $45.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Open Text presently has an average rating of “Moderate Buy” and an average price target of $46.25.

Open Text Trading Down 0.7 %

NASDAQ OTEX opened at $34.47 on Wednesday. The stock has a market capitalization of $9.40 billion, a P/E ratio of 73.34 and a beta of 1.09. The business has a 50 day simple moving average of $38.73 and a 200 day simple moving average of $38.76. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.38 and a quick ratio of 1.38. Open Text Co. has a one year low of $32.04 and a one year high of $45.47.

Open Text (NASDAQ:OTEX) (TSE:OTC) last released its quarterly earnings data on Thursday, February 1st. The software maker reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.01. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.48 billion. Open Text had a net margin of 2.24% and a return on equity of 22.99%. Research analysts expect that Open Text Co. will post 4.14 earnings per share for the current year.

Open Text Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Friday, March 1st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.00 annualized dividend and a yield of 2.90%. Open Text’s payout ratio is 212.77%.

Open Text 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.