Open Text Co. (NASDAQ:OTEX) Stock Holdings Raised by Achmea Investment Management B.V.

Achmea Investment Management B.V. raised its stake in Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 5.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 103,332 shares of the software maker’s stock after purchasing an additional 5,408 shares during the period. Achmea Investment Management B.V.’s holdings in Open Text were worth $2,923,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. IFP Advisors Inc grew its position in shares of Open Text by 103.8% during the 4th quarter. IFP Advisors Inc now owns 1,011 shares of the software maker’s stock valued at $29,000 after buying an additional 515 shares during the last quarter. Blue Trust Inc. grew its position in shares of Open Text by 40.8% during the 4th quarter. Blue Trust Inc. now owns 1,373 shares of the software maker’s stock valued at $39,000 after buying an additional 398 shares during the last quarter. Allworth Financial LP grew its position in shares of Open Text by 20.7% during the 4th quarter. Allworth Financial LP now owns 2,564 shares of the software maker’s stock valued at $73,000 after buying an additional 439 shares during the last quarter. Plato Investment Management Ltd bought a new stake in shares of Open Text during the 4th quarter valued at about $138,000. Finally, Asahi Life Asset Management CO. LTD. bought a new stake in shares of Open Text during the 4th quarter valued at about $241,000. Institutional investors own 70.37% of the company’s stock.

Analyst Ratings Changes

OTEX has been the subject of a number of recent research reports. Citigroup boosted their price objective on shares of Open Text from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Barclays boosted 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. TD Securities decreased their target price on shares of Open Text from $38.00 to $35.00 and set a “buy” rating for the company in a research report on Sunday, February 9th. UBS Group began coverage on shares of Open Text in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 target price for the company. Finally, StockNews.com cut shares of Open Text from a “strong-buy” rating to a “buy” rating in a research report on Monday, January 27th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $35.18.

Open Text Trading Up 3.8 %

Shares of NASDAQ:OTEX opened at $26.06 on Friday. The company has a 50 day moving average of $27.69 and a 200-day moving average of $29.91. The firm has a market cap of $6.88 billion, a P/E ratio of 10.59 and a beta of 1.17. Open Text Co. has a twelve month low of $24.86 and a twelve month high of $40.55. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.50.

Open Text (NASDAQ:OTEX) (TSE:OTC) last issued its quarterly earnings results on Thursday, February 6th. The software maker reported $1.02 earnings per share for the quarter, topping 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%. As a group, analysts anticipate that Open Text Co. will post 3.45 earnings per share 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. Investors 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 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 4.03%. Open Text’s dividend 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.