Open Text Co. (NASDAQ:OTEX) Shares Purchased by Avior Wealth Management LLC

Avior Wealth Management LLC lifted its position in Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 11.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,662 shares of the software maker’s stock after purchasing an additional 4,600 shares during the quarter. Avior Wealth Management LLC’s holdings in Open Text were worth $1,265,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its position in shares of Open Text by 1.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 18,872 shares of the software maker’s stock valued at $629,000 after purchasing an additional 322 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Open Text by 3.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,093 shares of the software maker’s stock valued at $369,000 after purchasing an additional 351 shares during the period. Cromwell Holdings LLC lifted its position in Open Text by 29.6% during the 3rd quarter. Cromwell Holdings LLC now owns 1,663 shares of the software maker’s stock worth $55,000 after acquiring an additional 380 shares during the period. Blue Trust Inc. lifted its position in Open Text by 435.7% during the 3rd quarter. Blue Trust Inc. now owns 975 shares of the software maker’s stock worth $32,000 after acquiring an additional 793 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its position in Open Text by 5.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 17,436 shares of the software maker’s stock worth $524,000 after acquiring an additional 874 shares during the period. 70.37% of the stock is owned by institutional investors and hedge funds.

Open Text Stock Performance

NASDAQ OTEX opened at $28.84 on Friday. Open Text Co. has a 1-year low of $26.84 and a 1-year high of $45.47. The company has a market capitalization of $7.61 billion, a P/E ratio of 16.67 and a beta of 1.12. The business has a 50 day moving average price of $28.91 and a 200 day moving average price of $30.75. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.79 and a quick ratio of 0.79.

Open Text (NASDAQ:OTEX) (TSE:OTC) last released its quarterly earnings results on Thursday, October 31st. The software maker reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.13. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.28 billion. Open Text had a return on equity of 24.34% and a net margin of 8.35%. Open Text’s revenue was down 11.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.90 earnings per share. Sell-side analysts expect that Open Text Co. will post 3.37 EPS for the current fiscal year.

Open Text Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 29th were given a dividend of $0.262 per share. This is an increase from Open Text’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.05 annualized dividend and a yield of 3.63%. Open Text’s dividend payout ratio (DPR) is presently 60.69%.

Analyst Upgrades and Downgrades

OTEX has been the subject of a number of recent research reports. Citigroup decreased their price objective on Open Text from $33.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. BMO Capital Markets decreased their price objective on Open Text from $33.00 to $32.00 and set a “market perform” rating for the company in a research report on Friday, November 1st. TD Securities decreased their price objective on Open Text from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, December 30th. Barclays decreased their price objective on Open Text from $36.00 to $34.00 and set an “equal weight” rating for the company in a research report on Friday, November 1st. Finally, Scotiabank cut their target price on Open Text from $40.00 to $35.00 and set a “sector perform” rating for the company in a research note on Friday, November 1st. Nine research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Open Text currently has a consensus rating of “Hold” and an average target price of $35.27.

Open Text Company 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.