Open Text Co. (NASDAQ:OTEX) Holdings Boosted by Brandes Investment Partners LP

Brandes Investment Partners LP boosted its holdings in Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 29.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 4,504,139 shares of the software maker’s stock after acquiring an additional 1,017,065 shares during the period. Open Text accounts for about 1.4% of Brandes Investment Partners LP’s portfolio, making the stock its 23rd biggest position. Brandes Investment Partners LP’s holdings in Open Text were worth $127,557,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Achmea Investment Management B.V. raised its holdings in shares of Open Text by 5.5% during the fourth quarter. Achmea Investment Management B.V. now owns 103,332 shares of the software maker’s stock valued at $2,923,000 after buying an additional 5,408 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Open Text during the fourth quarter valued at approximately $8,685,000. Farther Finance Advisors LLC raised its holdings in shares of Open Text by 15.4% during the fourth quarter. Farther Finance Advisors LLC now owns 10,041 shares of the software maker’s stock valued at $284,000 after buying an additional 1,340 shares during the last quarter. Cooke & Bieler LP increased its stake in shares of Open Text by 6.6% during the fourth quarter. Cooke & Bieler LP now owns 6,308,967 shares of the software maker’s stock valued at $178,670,000 after acquiring an additional 389,220 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Open Text by 1.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,637 shares of the software maker’s stock valued at $1,857,000 after acquiring an additional 947 shares during the period. Institutional investors own 70.37% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on OTEX. Citigroup raised their price objective on shares of Open Text from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. StockNews.com lowered shares of Open Text from a “strong-buy” rating to a “buy” rating in a research note on Monday, January 27th. Royal Bank of Canada lowered their price objective on shares of Open Text from $33.00 to $31.00 and set a “sector perform” rating on the stock in a research note on Friday, February 7th. UBS Group started coverage on shares of Open Text in a research note on Tuesday, December 17th. They set a “neutral” rating and a $32.00 price objective on the stock. Finally, Barclays lifted their price target on shares of Open Text from $34.00 to $36.00 and gave the stock 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’s stock. According to data from MarketBeat, Open Text presently has an average rating of “Hold” and a consensus price target of $35.18.

Open Text Trading Up 3.8 %

NASDAQ OTEX opened at $26.06 on Friday. Open Text Co. has a twelve month low of $24.86 and a twelve month high of $40.55. 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 stock has a market cap of $6.88 billion, a price-to-earnings ratio of 10.59 and a beta of 1.17. The firm’s 50 day moving average price is $27.69 and its two-hundred day moving average price is $29.91.

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

Open Text Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be paid a dividend of $0.2625 per share. The ex-dividend date is Friday, March 7th. This represents a $1.05 dividend on an annualized basis and a dividend yield of 4.03%. This is a positive change from Open Text’s previous quarterly dividend of $0.26. Open Text’s dividend payout ratio (DPR) is 42.68%.

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.