Open Text Corporation $OTEX is JARISLOWSKY FRASER Ltd’s 4th Largest Position

JARISLOWSKY FRASER Ltd lifted its position in Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) by 0.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 21,150,154 shares of the software maker’s stock after purchasing an additional 117,436 shares during the period. Open Text comprises approximately 4.3% of JARISLOWSKY FRASER Ltd’s portfolio, making the stock its 4th biggest holding. JARISLOWSKY FRASER Ltd owned about 8.36% of Open Text worth $790,736,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. grew its stake in shares of Open Text by 1.4% in the first quarter. Raymond James Financial Inc. now owns 127,887 shares of the software maker’s stock worth $3,230,000 after purchasing an additional 1,757 shares during the last quarter. Vident Advisory LLC lifted its holdings in Open Text by 6.6% in the 1st quarter. Vident Advisory LLC now owns 11,681 shares of the software maker’s stock worth $295,000 after buying an additional 722 shares during the period. Advisors Asset Management Inc. grew its position in shares of Open Text by 75.2% in the 1st quarter. Advisors Asset Management Inc. now owns 10,719 shares of the software maker’s stock worth $271,000 after buying an additional 4,601 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Open Text by 75.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,437,335 shares of the software maker’s stock worth $36,307,000 after buying an additional 619,527 shares during the last quarter. Finally, Guardian Partners Inc. increased its stake in shares of Open Text by 9.5% during the first quarter. Guardian Partners Inc. now owns 203,426 shares of the software maker’s stock valued at $5,083,000 after buying an additional 17,654 shares during the period. 70.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on OTEX shares. UBS Group lifted their price target on shares of Open Text from $32.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, November 7th. Scotiabank raised shares of Open Text from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $35.00 to $50.00 in a research note on Wednesday, September 24th. Barclays raised their price objective on shares of Open Text from $33.00 to $39.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 21st. Zacks Research upgraded Open Text from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 12th. Finally, National Bank Financial raised Open Text from a “sector perform” rating to an “outperform” rating and set a $45.00 target price for the company in a research report on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, Open Text has a consensus rating of “Hold” and an average price target of $39.25.

Open Text Stock Performance

Open Text stock opened at $31.74 on Friday. Open Text Corporation has a twelve month low of $22.79 and a twelve month high of $39.90. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.60. The company has a market capitalization of $7.99 billion, a P/E ratio of 16.62 and a beta of 1.08. The stock’s 50 day moving average is $34.30 and its 200 day moving average is $33.41.

Open Text (NASDAQ:OTEX) (TSE:OTC) last released its earnings results on Wednesday, November 5th. The software maker reported $1.05 EPS for the quarter, topping the consensus estimate of $1.00 by $0.05. Open Text had a return on equity of 23.44% and a net margin of 9.60%.The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the company posted $0.93 earnings per share. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, equities research analysts predict that Open Text Corporation will post 3.45 earnings per share for the current fiscal year.

Open Text Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were paid a $0.275 dividend. The ex-dividend date was Friday, December 5th. This represents a $1.10 dividend on an annualized basis and a yield of 3.5%. Open Text’s payout ratio is presently 57.59%.

About Open Text

Open Text Corporation is a Canadian enterprise information management (EIM) software company that develops solutions for organizations seeking to manage, protect and extract insight from their unstructured and structured data. The company’s platform encompasses document management, records management, digital asset management and archiving, enabling companies to govern information across its lifecycle.

Open Text’s product suite includes content services, business process management, customer experience management, analytics and security products.