Centaurus Financial Inc. Sells 1,271 Shares of Open Text Co. (NASDAQ:OTEX)

Centaurus Financial Inc. decreased its holdings in shares of Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 4.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,360 shares of the software maker’s stock after selling 1,271 shares during the quarter. Centaurus Financial Inc.’s holdings in Open Text were worth $912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. JARISLOWSKY FRASER Ltd lifted its holdings in shares of Open Text by 5.1% in the second quarter. JARISLOWSKY FRASER Ltd now owns 15,702,510 shares of the software maker’s stock worth $471,415,000 after buying an additional 767,822 shares in the last quarter. Vanguard Group Inc. grew its stake in Open Text by 1.3% during the first quarter. Vanguard Group Inc. now owns 10,344,910 shares of the software maker’s stock valued at $401,693,000 after acquiring an additional 135,812 shares in the last quarter. FIL Ltd increased its holdings in Open Text by 25.7% during the 4th quarter. FIL Ltd now owns 9,058,024 shares of the software maker’s stock worth $380,696,000 after acquiring an additional 1,853,891 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Open Text by 25.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,578,835 shares of the software maker’s stock worth $167,277,000 after purchasing an additional 1,118,479 shares in the last quarter. Finally, Cooke & Bieler LP grew its position in shares of Open Text by 18.6% during the 2nd quarter. Cooke & Bieler LP now owns 5,536,769 shares of the software maker’s stock valued at $166,325,000 after purchasing an additional 867,978 shares in the last quarter. 70.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

OTEX has been the topic of a number of recent analyst reports. Barclays lowered their target price on shares of Open Text from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. CIBC cut their target price on shares of Open Text from $36.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. BMO Capital Markets lowered their price target on Open Text from $38.00 to $33.00 and set a “market perform” rating on the stock in a research report on Friday, August 2nd. Citigroup upped their price objective on Open Text from $32.00 to $34.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Finally, National Bank Financial cut Open Text from an “outperform” rating to a “sector perform” rating in a report on Friday, August 2nd. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $38.80.

Open Text Trading Up 0.7 %

Open Text stock opened at $33.18 on Friday. Open Text Co. has a 12 month low of $27.50 and a 12 month high of $45.47. The business’s fifty day simple moving average is $31.77 and its two-hundred day simple moving average is $32.24. The company has a market capitalization of $8.96 billion, a price-to-earnings ratio of 53.52 and a beta of 1.12. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.51.

Open Text (NASDAQ:OTEX) (TSE:OTC) last announced its quarterly earnings results on Thursday, August 1st. The software maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.41 billion. Open Text had a return on equity of 25.00% and a net margin of 8.06%. The company’s quarterly revenue was down 8.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.79 earnings per share. As a group, equities analysts predict that Open Text Co. will post 3.23 earnings per share for the current fiscal year.

Open Text Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were issued a $0.192 dividend. This represents a $0.77 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date was Friday, August 30th. Open Text’s payout ratio is 169.35%.

Open Text Company Profile

Open Text Corporation provides information management software and solutions. The company offers content services, which includes content collaboration and intelligent capture to records management, collaboration, e-signatures, and archiving; and operates experience cloud platform that provides customer experience and web content management, digital asset management, customer analytics, AI and insights, e-discovery, digital fax, omnichannel communications, secure messaging, and voice of customer, as well as customer journey, testing, and segmentation.