OMERS ADMINISTRATION Corp Takes Position in Open Text Corporation $OTEX

OMERS ADMINISTRATION Corp bought a new position in Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 285,400 shares of the software maker’s stock, valued at approximately $6,315,000. OMERS ADMINISTRATION Corp owned about 0.12% of Open Text as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in shares of Open Text by 10.9% during the first quarter. Royal Bank of Canada now owns 9,843,494 shares of the software maker’s stock valued at $218,920,000 after acquiring an additional 965,385 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Open Text by 99.1% in the first quarter. Bank of America Corp DE now owns 1,349,545 shares of the software maker’s stock worth $30,014,000 after purchasing an additional 671,572 shares during the last quarter. Brandes Investment Partners LP increased its holdings in Open Text by 1.2% during the 4th quarter. Brandes Investment Partners LP now owns 9,106,157 shares of the software maker’s stock valued at $296,679,000 after purchasing an additional 106,766 shares during the period. Sei Investments Co. increased its holdings in Open Text by 47.3% during the 1st quarter. Sei Investments Co. now owns 255,601 shares of the software maker’s stock valued at $5,684,000 after purchasing an additional 82,049 shares during the period. Finally, Quantinno Capital Management LP raised its position in Open Text by 109.8% during the 1st quarter. Quantinno Capital Management LP now owns 109,717 shares of the software maker’s stock valued at $2,440,000 after purchasing an additional 57,432 shares during the last quarter. 70.37% of the stock is currently owned by institutional investors.

Open Text Price Performance

OTEX stock opened at $24.58 on Tuesday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a 50 day moving average price of $23.36 and a 200-day moving average price of $23.35. Open Text Corporation has a 52-week low of $19.77 and a 52-week high of $39.90. The firm has a market capitalization of $5.95 billion, a price-to-earnings ratio of 9.53 and a beta of 1.03.

Open Text (NASDAQ:OTEX) (TSE:OTC) last posted its quarterly earnings results on Thursday, August 6th. The software maker reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.21. Open Text had a return on equity of 25.76% and a net margin of 12.26%.The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the business posted $0.97 EPS. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. Equities research analysts forecast that Open Text Corporation will post 3.72 EPS for the current fiscal year.

Open Text Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be paid a $0.28 dividend. This is an increase from Open Text’s previous quarterly dividend of $0.28. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Friday, September 4th. Open Text’s payout ratio is currently 43.41%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. UBS Group lifted their price objective on Open Text from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Royal Bank Of Canada dropped their price target on Open Text from $30.00 to $27.00 and set a “sector perform” rating for the company in a research note on Friday, May 8th. National Bank Financial cut their price target on shares of Open Text from $45.00 to $33.00 and set an “outperform” rating on the stock in a report on Wednesday, May 27th. Scotia reduced their price objective on shares of Open Text from $40.00 to $33.00 and set a “sector outperform” rating on the stock in a research report on Friday, August 7th. Finally, Scotiabank decreased their price objective on shares of Open Text from $40.00 to $33.00 and set a “sector outperform” rating for the company in a report on Friday, August 7th. Three investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $32.46.

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.