Aviva PLC Has $5.61 Million Holdings in Open Text Co. (NASDAQ:OTEX)

Aviva PLC trimmed its holdings in shares of Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 1.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,718 shares of the software maker’s stock after selling 3,780 shares during the period. Aviva PLC’s holdings in Open Text were worth $5,612,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Stifel Financial Corp bought a new position in Open Text in the 3rd quarter valued at $2,232,000. Choreo LLC bought a new position in shares of Open Text in the 4th quarter worth $564,000. 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 worth $369,000 after purchasing an additional 351 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Open Text by 19.9% during the third quarter. Franklin Resources Inc. now owns 205,891 shares of the software maker’s stock worth $7,086,000 after acquiring an additional 34,135 shares in the last quarter. Finally, Canoe Financial LP lifted its holdings in Open Text by 127.3% during the fourth quarter. Canoe Financial LP now owns 150,000 shares of the software maker’s stock worth $4,242,000 after acquiring an additional 84,000 shares in the last quarter. 70.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on OTEX shares. Citigroup lifted their price target on Open Text from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Barclays lifted their target price 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. Royal Bank of Canada reduced their price target on Open Text from $33.00 to $31.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. StockNews.com cut Open Text from a “strong-buy” rating to a “buy” rating in a report on Monday, January 27th. Finally, TD Securities reduced their price objective on Open Text from $38.00 to $35.00 and set a “buy” rating for the company in a report on Sunday, February 9th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $35.18.

Open Text Stock Up 9.0 %

Shares of NASDAQ:OTEX opened at $25.29 on Thursday. The company has a fifty day moving average of $26.52 and a 200-day moving average of $28.98. The company has a market capitalization of $6.65 billion, a PE ratio of 10.28 and a beta of 1.13. 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 Co. has a 52-week low of $22.79 and a 52-week high of $36.72.

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

Open Text Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a dividend of $0.2625 per share. This represents a $1.05 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date was Friday, March 7th. This is a boost from Open Text’s previous quarterly dividend of $0.26. Open Text’s dividend payout ratio is 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.