Open Text Corporation (OTEX) To Go Ex-Dividend on June 5th

Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) announced a quarterly dividend on Tuesday, May 5th. Investors of record on Friday, June 5th will be paid a dividend of 0.275 per share by the software maker on Friday, June 19th. This represents a c) annualized dividend and a yield of 4.4%. The ex-dividend date is Friday, June 5th.

Open Text has decreased its dividend by an average of 0.1%per year over the last three years. Open Text has a payout ratio of 26.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Open Text to earn $4.32 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 25.5%.

Open Text Price Performance

Shares of OTEX opened at $24.79 on Wednesday. Open Text has a 52-week low of $20.00 and a 52-week high of $39.90. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.94 and a current ratio of 0.94. The business’s 50 day moving average price is $22.83 and its two-hundred day moving average price is $27.04. The firm has a market cap of $6.02 billion, a PE ratio of 12.09 and a beta of 1.05.

Open Text (NASDAQ:OTEX) (TSE:OTC) last issued its quarterly earnings results on Thursday, May 7th. The software maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $1.26 billion. During the same period in the previous year, the firm earned $0.82 earnings per share. The company’s revenue was up 2.2% compared to the same quarter last year. On average, equities analysts anticipate that Open Text will post 4.05 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Cidel Asset Management Inc. boosted its stake in Open Text by 4.5% in the 3rd quarter. Cidel Asset Management Inc. now owns 973,317 shares of the software maker’s stock worth $36,389,000 after purchasing an additional 41,867 shares during the period. Picton Mahoney Asset Management bought a new stake in shares of Open Text during the 3rd quarter valued at about $11,668,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Open Text by 456.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,312,755 shares of the software maker’s stock valued at $86,429,000 after acquiring an additional 1,896,755 shares during the last quarter. Munich Reinsurance Co Stock Corp in Munich bought a new stake in shares of Open Text during the 3rd quarter valued at about $10,052,000. Finally, Public Sector Pension Investment Board boosted its position in shares of Open Text by 257.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 89,452 shares of the software maker’s stock valued at $3,344,000 after acquiring an additional 64,416 shares during the last quarter. Institutional investors own 70.37% of the company’s stock.

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.