Open Text Co. (NASDAQ:OTEX) Shares Bought by Mufg Securities Canada LTD.

Mufg Securities Canada LTD. increased its position in shares of Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 70.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 406,007 shares of the software maker’s stock after purchasing an additional 167,973 shares during the period. Mufg Securities Canada LTD. owned 0.15% of Open Text worth $11,482,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Natixis Advisors LLC purchased a new position in shares of Open Text in the 3rd quarter valued at $1,467,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Open Text by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 672,532 shares of the software maker’s stock valued at $22,411,000 after acquiring an additional 11,965 shares during the period. Citigroup Inc. boosted its stake in shares of Open Text by 49.1% during the third quarter. Citigroup Inc. now owns 147,185 shares of the software maker’s stock worth $4,905,000 after buying an additional 48,496 shares during the period. Cerity Partners LLC lifted its position in Open Text by 12.6% during the 3rd quarter. Cerity Partners LLC now owns 34,307 shares of the software maker’s stock worth $1,142,000 after acquiring an additional 3,844 shares during the period. Finally, DRW Securities LLC purchased a new position in Open Text in the 3rd quarter valued at $313,000. Hedge funds and other institutional investors own 70.37% of the company’s stock.

Open Text Price Performance

OTEX opened at $27.16 on Wednesday. Open Text Co. has a 1 year low of $24.86 and a 1 year high of $39.87. The company’s 50 day simple moving average is $27.49 and its 200 day simple moving average is $29.61. The stock has a market capitalization of $7.17 billion, a PE ratio of 11.04 and a beta of 1.17. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.87 and a current ratio of 0.87.

Open Text (NASDAQ:OTEX) (TSE:OTC) last announced its quarterly earnings data on Thursday, February 6th. The software maker reported $1.02 earnings per share (EPS) for the quarter, beating 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%. As a group, sell-side analysts expect that Open Text Co. will post 3.45 EPS for the current year.

Open Text Increases Dividend

The company also recently declared 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 was Friday, March 7th. This is a positive change from Open Text’s previous quarterly dividend of $0.26. This represents a $1.05 annualized dividend and a yield of 3.87%. Open Text’s dividend payout ratio is currently 42.68%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Royal Bank of Canada reduced 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 research report on Friday, February 7th. TD Securities decreased their target price on Open Text from $38.00 to $35.00 and set a “buy” rating on the stock in a research report on Sunday, February 9th. Barclays raised their price target 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. Citigroup raised their target price on shares of Open Text from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Finally, UBS Group assumed coverage on shares of Open Text in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price 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.