Blue Trust Inc. Grows Stake in Open Text Co. (NASDAQ:OTEX)

Blue Trust Inc. lifted its holdings in shares of Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 40.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,373 shares of the software maker’s stock after buying an additional 398 shares during the period. Blue Trust Inc.’s holdings in Open Text were worth $39,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. AustralianSuper Pty Ltd increased its position in Open Text by 23.8% during the fourth quarter. AustralianSuper Pty Ltd now owns 298,046 shares of the software maker’s stock worth $8,424,000 after buying an additional 57,363 shares during the period. Vontobel Holding Ltd. grew its position in shares of Open Text by 6.5% during the fourth quarter. Vontobel Holding Ltd. now owns 59,351 shares of the software maker’s stock worth $1,677,000 after acquiring an additional 3,600 shares during the last quarter. Louisbourg Investments Inc. increased its holdings in shares of Open Text by 2.9% in the 4th quarter. Louisbourg Investments Inc. now owns 116,174 shares of the software maker’s stock valued at $3,286,000 after acquiring an additional 3,239 shares during the period. Allspring Global Investments Holdings LLC raised its position in Open Text by 30.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 166,476 shares of the software maker’s stock valued at $4,705,000 after purchasing an additional 39,266 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its stake in Open Text by 15.2% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 17,253 shares of the software maker’s stock worth $489,000 after purchasing an additional 2,270 shares during the period. Hedge funds and other institutional investors own 70.37% of the company’s stock.

Open Text Stock Performance

Shares of OTEX opened at $26.55 on Thursday. Open Text Co. has a 52-week low of $26.41 and a 52-week high of $40.55. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.50. The firm has a market cap of $7.01 billion, a price-to-earnings ratio of 10.79 and a beta of 1.12. The business’s 50 day moving average is $28.27 and its two-hundred day moving average is $30.42.

Open Text (NASDAQ:OTEX) (TSE:OTC) last posted its quarterly earnings results on Thursday, February 6th. The software maker reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.10. Open Text had a return on equity of 23.23% and a net margin of 12.21%. Analysts forecast that Open Text Co. will post 3.45 EPS for the current fiscal year.

Open Text Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be issued a $0.2625 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.05 dividend on an annualized basis and a yield of 3.95%. This is a boost from Open Text’s previous quarterly dividend of $0.26. Open Text’s dividend payout ratio (DPR) is currently 42.68%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on OTEX shares. Royal Bank of Canada lowered their price target on Open Text from $33.00 to $31.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Scotiabank dropped their target price on Open Text from $40.00 to $35.00 and set a “sector perform” rating on the stock in a report on Friday, November 1st. StockNews.com cut Open Text from a “strong-buy” rating to a “buy” rating in a research note on Monday, January 27th. Barclays lifted their price objective on shares of Open Text from $34.00 to $36.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Finally, BMO Capital Markets reduced their target price on shares of Open Text from $33.00 to $32.00 and set a “market perform” rating for the company in a research note on Friday, November 1st. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Open Text currently has a consensus rating of “Hold” and a consensus target price of $35.18.

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.