Open Text Co. (NASDAQ:OTEX) Shares Bought by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 32.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 250,201 shares of the software maker’s stock after acquiring an additional 61,600 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Open Text were worth $7,093,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in OTEX. Cooke & Bieler LP grew its holdings in Open Text by 6.6% during the fourth quarter. Cooke & Bieler LP now owns 6,308,967 shares of the software maker’s stock worth $178,670,000 after acquiring an additional 389,220 shares during the period. Brandes Investment Partners LP grew its stake in shares of Open Text by 29.2% during the 4th quarter. Brandes Investment Partners LP now owns 4,504,139 shares of the software maker’s stock worth $127,557,000 after purchasing an additional 1,017,065 shares during the period. National Bank of Canada FI increased its holdings in shares of Open Text by 1.1% during the 3rd quarter. National Bank of Canada FI now owns 4,068,116 shares of the software maker’s stock valued at $135,399,000 after purchasing an additional 46,223 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Open Text by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,397,853 shares of the software maker’s stock valued at $46,460,000 after purchasing an additional 61,696 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Open Text by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 677,709 shares of the software maker’s stock worth $19,170,000 after buying an additional 5,177 shares in the last quarter. 70.37% of the stock is owned by hedge funds and other institutional investors.

Open Text Stock Down 4.5 %

NASDAQ OTEX opened at $25.29 on Monday. The business has a fifty day moving average price of $27.38 and a 200 day moving average price of $29.49. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market cap of $6.65 billion, a P/E ratio of 10.28 and a beta of 1.17. Open Text Co. has a one year low of $24.86 and a one year high of $39.00.

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

Open Text Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid a dividend of $0.2625 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.05 dividend on an annualized basis and a yield of 4.15%. This is a positive change from Open Text’s previous quarterly dividend of $0.26. Open Text’s payout ratio is 42.68%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on OTEX. Royal Bank of Canada cut their price objective on shares of Open Text from $33.00 to $31.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. TD Securities reduced their price target on Open Text from $38.00 to $35.00 and set a “buy” rating for the company in a report on Sunday, February 9th. UBS Group initiated coverage on Open Text in a research report on Tuesday, December 17th. They set a “neutral” rating and a $32.00 price target on the stock. StockNews.com cut Open Text from a “strong-buy” rating to a “buy” rating in a research report on Monday, January 27th. Finally, Barclays increased their target price on Open Text from $34.00 to $36.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Open Text currently has a consensus rating of “Hold” and a consensus price target of $35.18.

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.