UBS Group AG Purchases 251,851 Shares of Open Text Corporation $OTEX

UBS Group AG grew its position in Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) by 61.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 662,567 shares of the software maker’s stock after acquiring an additional 251,851 shares during the period. UBS Group AG’s holdings in Open Text were worth $21,586,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Open Text by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 11,689,086 shares of the software maker’s stock valued at $436,926,000 after purchasing an additional 229,758 shares during the period. First Trust Advisors LP increased its stake in Open Text by 9.3% in the 3rd quarter. First Trust Advisors LP now owns 9,027,450 shares of the software maker’s stock worth $337,445,000 after buying an additional 765,366 shares in the last quarter. Bank of Montreal Can raised its holdings in Open Text by 14.1% during the third quarter. Bank of Montreal Can now owns 3,295,347 shares of the software maker’s stock valued at $123,149,000 after acquiring an additional 406,335 shares during the period. Dimensional Fund Advisors LP raised its holdings in Open Text by 48.9% during the third quarter. Dimensional Fund Advisors LP now owns 2,592,578 shares of the software maker’s stock valued at $96,914,000 after acquiring an additional 851,303 shares during the period. Finally, New South Capital Management Inc. lifted its position in shares of Open Text by 0.3% in the third quarter. New South Capital Management Inc. now owns 2,343,774 shares of the software maker’s stock valued at $87,610,000 after acquiring an additional 7,199 shares in the last quarter. 70.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Barclays increased their price objective on shares of Open Text from $25.00 to $27.00 and gave the company an “equal weight” rating in a report on Monday. Royal Bank Of Canada decreased their target price on Open Text from $30.00 to $27.00 and set a “sector perform” rating on the stock in a research report on Friday. UBS Group set a $25.00 price target on Open Text in a research note on Friday. Raymond James Financial reduced their price objective on Open Text from $42.00 to $35.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Scotia decreased their price objective on Open Text from $50.00 to $40.00 and set a “sector outperform” rating on the stock in a report on Friday. Four analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $34.67.

Open Text Stock Performance

Open Text stock opened at $24.40 on Tuesday. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market capitalization of $5.92 billion, a P/E ratio of 11.90 and a beta of 1.04. Open Text Corporation has a 1-year low of $20.00 and a 1-year high of $39.90. The company’s 50-day moving average is $23.07 and its 200 day moving average is $28.55.

Open Text (NASDAQ:OTEX) (TSE:OTC) last released its earnings results on Thursday, May 7th. The software maker reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.07. Open Text had a return on equity of 24.77% and a net margin of 9.91%.The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the prior year, the firm posted $0.82 earnings per share. The company’s quarterly revenue was up 2.2% on a year-over-year basis. Research analysts forecast that Open Text Corporation will post 3.98 EPS for the current year.

Open Text Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Stockholders of record on Friday, June 5th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Friday, June 5th. Open Text’s dividend payout ratio (DPR) is 53.66%.

Open Text Profile

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.