Open Text Co. (NASDAQ:OTEX) Stake Raised by Saturna Capital CORP

Saturna Capital CORP lifted its stake in shares of Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 1.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 63,150 shares of the software maker’s stock after acquiring an additional 1,000 shares during the quarter. Saturna Capital CORP’s holdings in Open Text were worth $3,208,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp increased its stake in shares of Open Text by 198.5% during the second quarter. Van ECK Associates Corp now owns 791 shares of the software maker’s stock valued at $40,000 after acquiring an additional 526 shares during the period. Bbva USA acquired a new position in shares of Open Text during the second quarter valued at approximately $57,000. Capital Analysts LLC increased its stake in shares of Open Text by 63.8% during the second quarter. Capital Analysts LLC now owns 1,373 shares of the software maker’s stock valued at $70,000 after acquiring an additional 535 shares during the period. FORA Capital LLC acquired a new position in shares of Open Text during the first quarter valued at approximately $75,000. Finally, Eaton Vance Management acquired a new position in shares of Open Text during the first quarter valued at approximately $116,000. Institutional investors and hedge funds own 65.78% of the company’s stock.

Several research analysts have issued reports on OTEX shares. TD Securities lifted their price target on shares of Open Text from $57.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, August 6th. Barclays lifted their price target on shares of Open Text from $56.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Friday, August 6th. Royal Bank of Canada lifted their price target on shares of Open Text from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, August 6th. Finally, Raymond James lifted their price target on shares of Open Text from $59.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, August 6th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $59.17.

NASDAQ OTEX traded up $0.36 on Tuesday, hitting $50.74. 27,975 shares of the stock were exchanged, compared to its average volume of 482,220. Open Text Co. has a 52-week low of $36.18 and a 52-week high of $55.25. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.62 and a quick ratio of 1.62. The company has a market capitalization of $13.79 billion, a price-to-earnings ratio of 44.58 and a beta of 0.94. The company’s 50-day moving average price is $52.59 and its two-hundred day moving average price is $49.93.

Open Text (NASDAQ:OTEX) (TSE:OTC) last posted its quarterly earnings data on Thursday, August 5th. The software maker reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.05. Open Text had a net margin of 9.17% and a return on equity of 21.87%. The firm had revenue of $893.53 million for the quarter, compared to analysts’ expectations of $843.00 million. Equities analysts predict that Open Text Co. will post 3.4 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 24th. Shareholders of record on Friday, September 3rd will be paid a dividend of $0.2209 per share. The ex-dividend date of this dividend is Thursday, September 2nd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.74%. This is a positive change from Open Text’s previous quarterly dividend of $0.20. Open Text’s dividend payout ratio (DPR) is 27.16%.

About Open Text

Open Text Corp. engages in the design, development, marketing and sales of enterprise information management software and solutions. It includes customer experience management (CEM), digital process automation, business network, and enterprise content management, discovery, security, and artificial intelligence (AI) and analytics solutions.

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Institutional Ownership by Quarter for Open Text (NASDAQ:OTEX)

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