EULAV Asset Management raised its position in shares of Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) by 6.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 108,500 shares of the company’s stock after buying an additional 7,000 shares during the period. EULAV Asset Management owned about 0.09% of Open Text Corporation worth $7,037,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Royal Bank of Canada boosted its position in Open Text Corporation by 27.1% in the second quarter. Royal Bank of Canada now owns 3,050,665 shares of the company’s stock worth $180,478,000 after buying an additional 650,955 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in Open Text Corporation by 9.6% in the third quarter. Canada Pension Plan Investment Board now owns 268,345 shares of the company’s stock worth $17,351,000 after buying an additional 23,600 shares during the last quarter. Boston Advisors LLC boosted its position in Open Text Corporation by 2.0% in the third quarter. Boston Advisors LLC now owns 282,961 shares of the company’s stock worth $18,353,000 after buying an additional 5,430 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its position in Open Text Corporation by 83.1% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 791,500 shares of the company’s stock worth $60,463,000 after buying an additional 359,121 shares during the last quarter. Finally, Aperio Group LLC boosted its position in Open Text Corporation by 0.5% in the third quarter. Aperio Group LLC now owns 78,599 shares of the company’s stock worth $5,098,000 after buying an additional 379 shares during the last quarter. Institutional investors own 63.89% of the company’s stock.
Open Text Corporation (NASDAQ:OTEX) traded up 0.84% on Wednesday, hitting $63.63. The stock had a trading volume of 96,229 shares. The company has a market cap of $7.69 billion, a P/E ratio of 6.72 and a beta of 0.78. The firm’s 50-day moving average is $61.86 and its 200-day moving average is $62.24. Open Text Corporation has a 52-week low of $41.93 and a 52-week high of $66.84.
Open Text Corporation (NASDAQ:OTEX) last posted its earnings results on Thursday, November 3rd. The company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by $0.01. The business had revenue of $491.70 million for the quarter, compared to analyst estimates of $495.82 million. Open Text Corporation had a return on equity of 19.43% and a net margin of 61.45%. Open Text Corporation’s revenue was up 13.2% compared to the same quarter last year. During the same period last year, the business earned $0.84 EPS. Equities research analysts anticipate that Open Text Corporation will post $3.95 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 22nd. Shareholders of record on Friday, December 2nd were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, November 30th. This represents a $0.92 annualized dividend and a yield of 1.46%. Open Text Corporation’s dividend payout ratio (DPR) is 9.73%.
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OTEX has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded Open Text Corporation from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a report on Tuesday, October 25th. BMO Capital Markets upgraded Open Text Corporation from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $63.00 to $73.00 in a report on Tuesday, September 13th. Scotiabank restated an “outperform” rating and set a $72.00 price objective (down previously from $73.00) on shares of Open Text Corporation in a report on Sunday, November 6th. RBC Capital Markets restated an “outperform” rating and set a $91.00 price objective on shares of Open Text Corporation in a report on Wednesday, December 7th. Finally, Mitsubishi UFJ Financial Group initiated coverage on Open Text Corporation in a report on Friday, October 21st. They set an “overweight” rating and a $74.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $71.82.
Open Text Corporation Company Profile
Open Text Corporation provides a platform and suite of software products and services that assist organizations in finding, utilizing, and sharing business information from any device. The Company designs, develops, markets and sells Enterprise Information Management (EIM) software and solutions. Its EIM offerings include Enterprise Content Management (ECM), Business Process Management (BPM), Customer Experience Management (CEM), Business Network, Discovery and Analytics.
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