Natixis Advisors LLC Has $1.16 Million Stock Holdings in Open Text Co. (NASDAQ:OTEX)

Natixis Advisors LLC lowered its holdings in shares of Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 6.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,075 shares of the software maker’s stock after selling 3,016 shares during the period. Natixis Advisors LLC’s holdings in Open Text were worth $1,163,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. IFP Advisors Inc grew its position in shares of Open Text by 103.8% during the 4th quarter. IFP Advisors Inc now owns 1,011 shares of the software maker’s stock worth $29,000 after buying an additional 515 shares during the period. Blue Trust Inc. boosted its stake in Open Text by 40.8% during the fourth quarter. Blue Trust Inc. now owns 1,373 shares of the software maker’s stock worth $39,000 after acquiring an additional 398 shares in the last quarter. Allworth Financial LP grew its holdings in Open Text by 20.7% in the fourth quarter. Allworth Financial LP now owns 2,564 shares of the software maker’s stock worth $73,000 after purchasing an additional 439 shares during the period. Plato Investment Management Ltd bought a new stake in Open Text in the fourth quarter valued at $138,000. Finally, Asahi Life Asset Management CO. LTD. acquired a new position in shares of Open Text during the fourth quarter valued at about $241,000. 70.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

OTEX has been the subject of several research reports. TD Securities reduced their target price on Open Text from $38.00 to $35.00 and set a “buy” rating for the company in a research note on Sunday, February 9th. Citigroup boosted their price objective on Open Text from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Barclays upped their target price on Open Text from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. UBS Group began coverage on shares of Open Text in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 price target for the company. Finally, Royal Bank of Canada lowered their price objective on shares of Open Text from $33.00 to $31.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $35.18.

Open Text Stock Up 0.9 %

Open Text stock opened at $27.16 on Wednesday. Open Text Co. has a fifty-two week low of $24.86 and a fifty-two week high of $39.87. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.87 and a current ratio of 0.87. The firm’s 50-day simple moving average is $27.49 and its 200 day simple moving average is $29.61. The stock has a market cap of $7.17 billion, a PE ratio of 11.04 and a beta of 1.17.

Open Text (NASDAQ:OTEX) (TSE:OTC) last announced its earnings results on Thursday, February 6th. The software maker reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.10. Open Text had a return on equity of 23.23% and a net margin of 12.21%. Research analysts predict that Open Text Co. will post 3.45 EPS for the current fiscal year.

Open Text Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a dividend of $0.2625 per share. This represents a $1.05 dividend on an annualized basis and a dividend yield of 3.87%. This is a boost from Open Text’s previous quarterly dividend of $0.26. The ex-dividend date was Friday, March 7th. Open Text’s payout ratio is presently 42.68%.

Open Text 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.