Grantham Mayo Van Otterloo & Co. LLC Boosts Stock Holdings in Open Text Corporation $OTEX

Grantham Mayo Van Otterloo & Co. LLC raised its stake in Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) by 2.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,376,901 shares of the software maker’s stock after acquiring an additional 34,142 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Open Text were worth $51,470,000 as of its most recent SEC filing.

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

Open Text Trading Down 1.0%

OTEX stock opened at $25.56 on Friday. Open Text Corporation has a twelve month low of $22.44 and a twelve month high of $39.90. The stock has a market capitalization of $6.41 billion, a price-to-earnings ratio of 15.04 and a beta of 1.08. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.57. The firm’s fifty day simple moving average is $27.62 and its two-hundred day simple moving average is $32.71.

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

Open Text Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on OTEX. Weiss Ratings restated a “hold (c+)” rating on shares of Open Text in a research report on Monday, December 29th. Citigroup lowered their price objective on shares of Open Text from $36.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, February 6th. Zacks Research downgraded shares of Open Text from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. UBS Group set a $26.00 target price on shares of Open Text in a research report on Friday, February 6th. Finally, TD Securities raised shares of Open Text to a “hold” rating in a report on Monday, February 2nd. Three research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $35.75.

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.