Aviso Financial Inc. Decreases Position in Open Text Co. (NASDAQ:OTEX)

by · The Cerbat Gem

Aviso Financial Inc. lessened its holdings in Open Text Co. (NASDAQ:OTEX – Free Report) (TSE:OTC) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 74,449 shares of the software maker’s stock after selling 1,427 shares during the quarter. Aviso Financial Inc.’s holdings in Open Text were worth $2,106,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OTEX. Cooke & Bieler LP lifted its position in shares of Open Text by 6.6% during the 4th quarter. Cooke & Bieler LP now owns 6,308,967 shares of the software maker’s stock worth $178,670,000 after purchasing an additional 389,220 shares during the last quarter. Toronto Dominion Bank lifted its position in shares of Open Text by 169.6% during the 3rd quarter. Toronto Dominion Bank now owns 576,105 shares of the software maker’s stock worth $19,173,000 after purchasing an additional 362,422 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Open Text during the 4th quarter worth $8,685,000. Andra AP fonden lifted its position in shares of Open Text by 386.5% during the 4th quarter. Andra AP fonden now owns 267,600 shares of the software maker’s stock worth $7,578,000 after purchasing an additional 212,600 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Open Text during the 4th quarter worth $3,572,000. Hedge funds and other institutional investors own 70.37% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. TD Securities decreased their price objective 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. StockNews.com lowered shares of Open Text from a “strong-buy” rating to a “buy” rating in a research note on Monday, January 27th. Barclays lifted their price target on shares of Open Text from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Citigroup lifted their price target on shares of Open Text from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Finally, Royal Bank of Canada cut their price target on shares of Open Text from $33.00 to $31.00 and set a “sector perform” rating on the stock in a research note on Friday, February 7th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $35.18.

Get Our Latest Stock Report on Open Text

Open Text Trading Down 0.7 %

NASDAQ OTEX opened at $25.11 on Friday. The firm has a market cap of $6.63 billion, a PE ratio of 10.21 and a beta of 1.17. The firm’s fifty day moving average is $27.74 and its two-hundred day moving average is $29.95. 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 one year low of $24.86 and a one year high of $40.55.

Open Text (NASDAQ:OTEX – Get Free Report) (TSE:OTC) last issued its earnings results on Thursday, February 6th. The software maker reported $1.02 earnings per share 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%. Analysts expect that Open Text Co. will post 3.45 earnings per share for the current year.

Open Text Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be issued a dividend of $0.2625 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.05 dividend on an annualized basis and a yield of 4.18%. This is an increase from Open Text’s previous quarterly dividend of $0.26. Open Text’s payout ratio is currently 42.68%.

Open Text Profile

(Free Report)

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.

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