Achmea Investment Management B.V. Grows Stock Holdings in Open Text Co. (NASDAQ:OTEX)

Achmea Investment Management B.V. boosted its position in Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 5.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 103,332 shares of the software maker’s stock after acquiring an additional 5,408 shares during the period. Achmea Investment Management B.V.’s holdings in Open Text were worth $2,923,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OTEX. Oppenheimer Asset Management Inc. purchased a new stake in Open Text in the 3rd quarter worth approximately $332,000. Natixis Advisors LLC purchased a new stake in shares of Open Text during the 3rd quarter valued at $1,467,000. Ontario Teachers Pension Plan Board grew its stake in shares of Open Text by 105.8% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 39,885 shares of the software maker’s stock valued at $1,328,000 after buying an additional 20,503 shares during the period. Scheer Rowlett & Associates Investment Management Ltd. grew its stake in shares of Open Text by 1.2% during the 3rd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 196,899 shares of the software maker’s stock valued at $6,554,000 after buying an additional 2,240 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Open Text by 1.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 672,532 shares of the software maker’s stock valued at $22,411,000 after buying an additional 11,965 shares during the period. 70.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on OTEX. Royal Bank of Canada lowered their price objective on shares of Open Text from $33.00 to $31.00 and set a “sector perform” rating for the company in a research note on Friday, February 7th. Barclays boosted their price objective on shares of Open Text from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. StockNews.com cut shares of Open Text from a “strong-buy” rating to a “buy” rating in a research note on Monday, January 27th. UBS Group started coverage on shares of Open Text in a report on Tuesday, December 17th. They set a “neutral” rating and a $32.00 target price on the stock. Finally, TD Securities reduced their target price on shares of Open Text from $38.00 to $35.00 and set a “buy” rating on the stock in a report on Sunday, February 9th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $35.18.

Open Text Stock Performance

Shares of OTEX stock opened at $26.06 on Friday. Open Text Co. has a 12 month low of $24.86 and a 12 month high of $40.55. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market capitalization of $6.88 billion, a P/E ratio of 10.59 and a beta of 1.17. The company’s fifty day moving average price is $27.69 and its two-hundred day moving average price is $29.91.

Open Text (NASDAQ:OTEX) (TSE:OTC) last issued its quarterly earnings data on Thursday, February 6th. The software maker reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.10. Open Text had a net margin of 12.21% and a return on equity of 23.23%. On average, research analysts anticipate that Open Text Co. will post 3.45 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. Stockholders of record on Friday, March 7th will be given a $0.2625 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.05 annualized dividend and a dividend yield of 4.03%. This is an increase from Open Text’s previous quarterly dividend of $0.26. Open Text’s payout ratio is presently 42.68%.

About Open Text

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.