Munich Reinsurance Co Stock Corp in Munich Makes New $10.05 Million Investment in Open Text Corporation $OTEX

Munich Reinsurance Co Stock Corp in Munich purchased a new position in shares of Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 268,866 shares of the software maker’s stock, valued at approximately $10,052,000.

A number of other large investors also recently bought and sold shares of the company. Sagard Holdings Management Inc. purchased a new position in shares of Open Text during the 2nd quarter worth approximately $30,000. MAI Capital Management grew its stake in Open Text by 58.7% in the 2nd quarter. MAI Capital Management now owns 1,595 shares of the software maker’s stock valued at $47,000 after acquiring an additional 590 shares during the last quarter. WealthCollab LLC grew its position in shares of Open Text by 39.5% in the second quarter. WealthCollab LLC now owns 1,640 shares of the software maker’s stock valued at $48,000 after purchasing an additional 464 shares during the last quarter. Osaic Holdings Inc. increased its position in Open Text by 108.8% during the second quarter. Osaic Holdings Inc. now owns 1,798 shares of the software maker’s stock worth $52,000 after buying an additional 937 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Open Text by 39.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,005 shares of the software maker’s stock valued at $59,000 after purchasing an additional 570 shares during the last quarter. Hedge funds and other institutional investors own 70.37% of the company’s stock.

Open Text Stock Performance

Shares of OTEX opened at $25.56 on Friday. Open Text Corporation has a one year low of $22.44 and a one year high of $39.90. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market cap of $6.41 billion, a price-to-earnings ratio of 15.04 and a beta of 1.08. The company has a 50-day moving average of $27.62 and a two-hundred day moving average of $32.71.

Open Text (NASDAQ:OTEX) (TSE:OTC) last posted its quarterly earnings results on Thursday, February 5th. The software maker reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.09. Open Text had a net margin of 8.42% and a return on equity of 23.60%. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period in the prior year, the firm earned $1.11 earnings per share. The firm’s revenue was down .6% compared to the same quarter last year. On average, equities research analysts expect that Open Text Corporation will post 3.45 earnings per share for the current year.

Open Text Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be paid a $0.275 dividend. The ex-dividend date is Friday, March 6th. This represents a $1.10 dividend on an annualized basis and a yield of 4.3%. Open Text’s dividend payout ratio (DPR) is presently 64.71%.

Analysts Set New Price Targets

OTEX has been the topic of several recent analyst reports. TD Securities upgraded Open Text to a “hold” rating in a research report on Monday, February 2nd. Citigroup lowered their target price on Open Text from $36.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, February 6th. Royal Bank Of Canada lowered their target price on Open Text from $33.00 to $30.00 and set a “sector perform” rating for the company in a research note on Friday, February 6th. Raymond James Financial reduced their price target on shares of Open Text from $48.00 to $42.00 and set an “outperform” rating on the stock in a research report on Friday, February 6th. Finally, UBS Group set a $26.00 target price on shares of Open Text in a research note on Friday, February 6th. Three equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $35.75.

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.