Open Text Co. (NASDAQ:OTEX) Shares Acquired by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB raised its holdings in shares of Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 15.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,253 shares of the software maker’s stock after purchasing an additional 2,270 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Open Text were worth $489,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Toronto Dominion Bank raised its position in 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 buying an additional 362,422 shares during the last quarter. Crossmark Global Holdings Inc. lifted its position in Open Text by 1,290.4% during the third quarter. Crossmark Global Holdings Inc. now owns 336,790 shares of the software maker’s stock valued at $11,209,000 after purchasing an additional 312,567 shares during the period. AustralianSuper Pty Ltd acquired a new position in Open Text during the third quarter valued at $8,011,000. Access Investment Management LLC acquired a new position in Open Text during the third quarter valued at $6,509,000. Finally, Allspring Global Investments Holdings LLC lifted its position in Open Text by 28,811.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 127,210 shares of the software maker’s stock valued at $4,239,000 after purchasing an additional 126,770 shares during the period. 70.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on OTEX shares. Barclays upped their target price on Open Text from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. TD Securities dropped their price objective on shares of Open Text from $38.00 to $35.00 and set a “buy” rating on the stock in a research note on Sunday. Scotiabank dropped their price objective on shares of Open Text from $40.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Friday, November 1st. StockNews.com cut shares of Open Text from a “strong-buy” rating to a “buy” rating in a report on Monday, January 27th. Finally, BMO Capital Markets cut their price objective on shares of Open Text from $33.00 to $32.00 and set a “market perform” rating for the company in a report on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $35.18.

Open Text Stock Performance

NASDAQ:OTEX opened at $28.66 on Wednesday. The company’s 50-day moving average price is $28.82 and its 200-day moving average price is $30.60. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.54. The company has a market cap of $7.56 billion, a P/E ratio of 11.65 and a beta of 1.12. Open Text Co. has a twelve month low of $26.84 and a twelve month high of $41.96.

Open Text (NASDAQ:OTEX) (TSE:OTC) last issued its earnings results on Thursday, February 6th. The software maker reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.10. Open Text had a return on equity of 23.33% and a net margin of 12.21%. On average, sell-side analysts forecast that Open Text Co. will post 3.37 earnings per share for the current fiscal year.

Open Text Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be issued a $0.2625 dividend. This is a boost from Open Text’s previous quarterly dividend of $0.26. This represents a $1.05 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend is Friday, March 7th. Open Text’s dividend payout ratio is presently 42.68%.

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.