Metis Global Partners LLC Has $355,000 Position in Open Text Co. (NASDAQ:OTEX)

Metis Global Partners LLC lowered its holdings in Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 4.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 12,540 shares of the software maker’s stock after selling 536 shares during the quarter. Metis Global Partners LLC’s holdings in Open Text were worth $355,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. The Manufacturers Life Insurance Company grew its position in Open Text by 1.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,642,455 shares of the software maker’s stock valued at $187,952,000 after purchasing an additional 63,620 shares during the period. National Bank of Canada FI grew its position in Open Text by 1.1% in 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 during the period. Geode Capital Management LLC grew its position in 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. Charles Schwab Investment Management Inc. grew its position in 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 purchasing an additional 11,965 shares during the period. Finally, Toronto Dominion Bank grew its position in Open Text by 169.6% in the 3rd quarter. Toronto Dominion Bank now owns 576,105 shares of the software maker’s stock valued at $19,173,000 after purchasing an additional 362,422 shares during the period. Institutional investors and hedge funds own 70.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on OTEX. StockNews.com downgraded shares of Open Text from a “strong-buy” rating to a “buy” rating in a research report on Monday, January 27th. Barclays lifted their price objective on shares of Open Text from $34.00 to $36.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. TD Securities cut their price objective on shares of Open Text from $38.00 to $35.00 and set a “buy” rating on the stock in a report on Sunday, February 9th. UBS Group assumed coverage on shares of Open Text in a report on Tuesday, December 17th. They set a “neutral” rating and a $32.00 price objective on the stock. Finally, Citigroup lifted their price objective on shares of Open Text from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Nine research 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.com, the stock has an average rating of “Hold” and an average price target of $35.18.

Open Text Trading Up 1.6 %

NASDAQ OTEX opened at $26.01 on Thursday. The stock has a market capitalization of $6.87 billion, a price-to-earnings ratio of 10.57 and a beta of 1.12. Open Text Co. has a one year low of $25.07 and a one year high of $40.55. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.87 and a quick ratio of 0.87. The business’s fifty day moving average is $28.05 and its 200-day moving average is $30.21.

Open Text (NASDAQ:OTEX) (TSE:OTC) last released its 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%. Equities research analysts predict that Open Text Co. will post 3.45 EPS for the current year.

Open Text Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be paid a $0.2625 dividend. This is a boost from Open Text’s previous quarterly dividend of $0.26. This represents a $1.05 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend is Friday, March 7th. Open Text’s payout ratio is currently 42.68%.

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.