Susquehanna Advisors Group Inc. Increases Stock Position in Open Text Corporation $OTEX

Susquehanna Advisors Group Inc. boosted its position in shares of Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) by 264.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 237,178 shares of the software maker’s stock after purchasing an additional 172,061 shares during the period. Susquehanna Advisors Group Inc. owned approximately 0.10% of Open Text worth $5,253,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OTEX. Kimelman & Baird LLC purchased a new position in Open Text in the 2nd quarter valued at about $27,000. CIBC Private Wealth Group LLC bought a new position in shares of Open Text during the third quarter worth about $33,000. Global Retirement Partners LLC bought a new position in shares of Open Text during the second quarter worth about $34,000. WealthCollab LLC grew its stake in Open Text by 39.5% in the second quarter. WealthCollab LLC now owns 1,640 shares of the software maker’s stock worth $48,000 after purchasing an additional 464 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its holdings in Open Text by 5,096.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,611 shares of the software maker’s stock valued at $52,000 after buying an additional 1,580 shares during the last quarter. Hedge funds and other institutional investors own 70.37% of the company’s stock.

Analyst Ratings Changes

OTEX has been the topic of a number of research analyst reports. UBS Group increased their target price on Open Text from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. National Bank Financial lowered their price target on Open Text from $45.00 to $33.00 and set an “outperform” rating for the company in a report on Wednesday, May 27th. Wall Street Zen lowered Open Text from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Scotia reduced their price objective on Open Text from $40.00 to $33.00 and set a “sector outperform” rating on the stock in a research note 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 research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $32.46.

Open Text Stock Performance

Shares of OTEX stock opened at $25.10 on Monday. The company has a market cap of $6.08 billion, a P/E ratio of 9.73 and a beta of 1.03. The business has a 50 day moving average of $23.65 and a two-hundred day moving average of $23.36. Open Text Corporation has a 52 week low of $19.77 and a 52 week high of $39.90. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.43.

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

Open Text Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be given a $0.28 dividend. This is a boost from Open Text’s previous quarterly dividend of $0.28. This represents a $1.12 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Friday, September 4th. Open Text’s dividend payout ratio is 43.41%.

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.