Mufg Securities Canada LTD. Has $12.50 Million Stock Holdings in Open Text Corporation $OTEX

Mufg Securities Canada LTD. lessened its position in shares of Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) by 8.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 383,718 shares of the software maker’s stock after selling 37,110 shares during the quarter. Mufg Securities Canada LTD. owned about 0.15% of Open Text worth $12,499,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Tidal Investments LLC lifted its stake in shares of Open Text by 2.6% during the second quarter. Tidal Investments LLC now owns 18,059 shares of the software maker’s stock valued at $527,000 after acquiring an additional 460 shares during the period. WealthCollab LLC lifted its stake in shares of Open Text by 39.5% during the second quarter. WealthCollab LLC now owns 1,640 shares of the software maker’s stock valued at $48,000 after acquiring an additional 464 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Open Text by 39.7% during the second quarter. EverSource Wealth Advisors LLC now owns 2,005 shares of the software maker’s stock valued at $59,000 after acquiring an additional 570 shares during the period. Lazard Asset Management LLC lifted its stake in shares of Open Text by 1.0% during the second quarter. Lazard Asset Management LLC now owns 66,512 shares of the software maker’s stock valued at $1,942,000 after acquiring an additional 655 shares during the period. Finally, Barclays PLC increased its holdings in Open Text by 55.5% in the fourth quarter. Barclays PLC now owns 1,854 shares of the software maker’s stock valued at $60,000 after purchasing an additional 662 shares during the last quarter. Institutional investors and hedge funds own 70.37% of the company’s stock.

Analyst Ratings Changes

OTEX has been the subject of a number of recent analyst reports. National Bank Financial dropped their price objective on Open Text from $45.00 to $33.00 and set an “outperform” rating for the company in a report on Wednesday, May 27th. Scotiabank dropped their price objective on Open Text from $50.00 to $40.00 and set a “sector outperform” rating for the company in a report on Friday, May 8th. Citigroup dropped their price objective on Open Text from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, May 8th. UBS Group set a $25.00 price objective on Open Text in a report on Friday, May 8th. Finally, Raymond James Financial dropped their price objective on Open Text from $42.00 to $35.00 and set an “outperform” rating for the company in a report on Friday, May 8th. Four analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $33.67.

Open Text Stock Performance

NASDAQ OTEX opened at $22.23 on Monday. Open Text Corporation has a 12 month low of $20.00 and a 12 month high of $39.90. The stock has a 50-day simple moving average of $22.95 and a 200 day simple moving average of $26.37. The company has a market capitalization of $5.39 billion, a PE ratio of 10.84 and a beta of 1.05. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.56.

Open Text (NASDAQ:OTEX) (TSE:OTC) last announced its quarterly earnings results on Thursday, May 7th. The software maker reported $1.01 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the company earned $0.82 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. Research analysts forecast that Open Text Corporation will post 4.05 EPS for the current year.

Open Text Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, June 5th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Friday, June 5th. Open Text’s dividend payout ratio 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.