19,023 Shares in Open Text Co. (NASDAQ:OTEX) Acquired by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc acquired a new stake in Open Text Co. (NASDAQ:OTEX) (TSE:OTC) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 19,023 shares of the software maker’s stock, valued at approximately $537,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. AustralianSuper Pty Ltd acquired a new stake in shares of Open Text in the third quarter valued at $8,011,000. The Manufacturers Life Insurance Company grew its holdings in Open Text by 1.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,642,455 shares of the software maker’s stock worth $187,952,000 after acquiring an additional 63,620 shares during the last quarter. Natixis Advisors LLC acquired a new stake in Open Text in the 3rd quarter valued at about $1,467,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Open Text by 126.1% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 86,260 shares of the software maker’s stock worth $2,871,000 after acquiring an additional 48,111 shares during the last quarter. Finally, Stifel Financial Corp acquired a new position in shares of Open Text during the third quarter worth approximately $2,232,000. Institutional investors and hedge funds own 70.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on OTEX. Citigroup raised their price target 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. StockNews.com downgraded Open Text from a “strong-buy” rating to a “buy” rating in a research report on Monday, January 27th. UBS Group started coverage on Open Text in a report on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 price target on the stock. Barclays lifted their price objective on Open Text from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Finally, BMO Capital Markets cut their target price on shares of Open Text from $33.00 to $32.00 and set a “market perform” rating on the stock in a research report on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $35.18.

Open Text Stock Performance

Shares of OTEX opened at $26.55 on Thursday. The firm has a market cap of $7.01 billion, a P/E ratio of 10.79 and a beta of 1.12. Open Text Co. has a twelve month low of $26.41 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 firm’s 50 day moving average price is $28.27 and its two-hundred day moving average price is $30.42.

Open Text (NASDAQ:OTEX) (TSE:OTC) last posted its quarterly earnings data on Thursday, February 6th. The software maker reported $1.02 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%. On average, analysts forecast that Open Text Co. will post 3.45 EPS for the current fiscal year.

Open Text Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be given a dividend of $0.2625 per share. This is a boost from Open Text’s previous quarterly dividend of $0.26. This represents a $1.05 annualized dividend and a dividend yield of 3.95%. The ex-dividend date is Friday, March 7th. Open Text’s dividend payout ratio is currently 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.