Open Text Corp (OTEX) Holdings Trimmed by Disciplined Growth Investors Inc. MN

Disciplined Growth Investors Inc. MN lowered its position in shares of Open Text Corp (NASDAQ:OTEX) (TSE:OTC) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,687,796 shares of the software maker’s stock after selling 52,599 shares during the quarter. Open Text accounts for 4.0% of Disciplined Growth Investors Inc. MN’s holdings, making the stock its 4th biggest position. Disciplined Growth Investors Inc. MN owned approximately 2.14% of Open Text worth $202,884,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in OTEX. Wells Fargo & Company MN raised its stake in shares of Open Text by 15.6% during the 2nd quarter. Wells Fargo & Company MN now owns 5,539 shares of the software maker’s stock worth $175,000 after purchasing an additional 749 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Open Text by 14.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 57,900 shares of the software maker’s stock worth $1,870,000 after purchasing an additional 7,137 shares in the last quarter. FDx Advisors Inc. raised its stake in shares of Open Text by 74.7% during the 3rd quarter. FDx Advisors Inc. now owns 13,481 shares of the software maker’s stock worth $435,000 after purchasing an additional 5,765 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Open Text by 0.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,467,988 shares of the software maker’s stock worth $47,258,000 after purchasing an additional 12,666 shares in the last quarter. Finally, Harbour Capital Advisors LLC bought a new stake in shares of Open Text during the 3rd quarter worth approximately $245,000. Institutional investors own 70.73% of the company’s stock.

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Shares of Open Text Corp (NASDAQ OTEX) opened at $35.62 on Tuesday. Open Text Corp has a 12 month low of $30.88 and a 12 month high of $40.31. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $9,651.54, a price-to-earnings ratio of 50.17 and a beta of 0.33.

Open Text (NASDAQ:OTEX) (TSE:OTC) last posted its quarterly earnings results on Wednesday, January 31st. The software maker reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.13. Open Text had a return on equity of 6.82% and a net margin of 7.20%. The business had revenue of $734.40 million for the quarter, compared to analysts’ expectations of $688.59 million. During the same quarter in the prior year, the business earned $0.54 EPS. The firm’s revenue for the quarter was up 35.3% on a year-over-year basis. equities analysts expect that Open Text Corp will post 0.74 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, March 2nd will be paid a $0.132 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Thursday, March 1st. Open Text’s dividend payout ratio (DPR) is presently 74.65%.

A number of equities research analysts have recently issued reports on OTEX shares. Macquarie cut Open Text from a “neutral” rating to an “underperform” rating and set a $31.50 price objective on the stock. in a research note on Wednesday, November 22nd. Raymond James Financial cut Open Text to an “underperform” rating and set a $40.00 price objective on the stock. in a research note on Wednesday, November 22nd. BidaskClub cut Open Text from a “hold” rating to a “sell” rating in a research note on Tuesday, December 5th. BMO Capital Markets reiterated a “buy” rating and set a $42.00 price objective on shares of Open Text in a research note on Thursday, February 1st. Finally, Barclays upped their price objective on Open Text from $44.00 to $46.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $44.18.

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Open Text 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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Institutional Ownership by Quarter for Open Text (NASDAQ:OTEX)

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