XTX Topco Ltd Acquires Shares of 25,898 Open Text Co. (NASDAQ:OTEX)

XTX Topco Ltd bought a new position in Open Text Co. (NASDAQ:OTEX) (TSE:OTC) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 25,898 shares of the software maker’s stock, valued at approximately $778,000.

Several other hedge funds also recently made changes to their positions in OTEX. Optiver Holding B.V. acquired a new position in shares of Open Text in the 4th quarter worth approximately $27,000. Ridgewood Investments LLC acquired a new position in shares of Open Text in the 2nd quarter worth approximately $30,000. Headlands Technologies LLC acquired a new position in shares of Open Text in the 1st quarter worth approximately $32,000. Assetmark Inc. acquired a new position in shares of Open Text in the 4th quarter worth approximately $48,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Open Text by 18.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the software maker’s stock worth $92,000 after acquiring an additional 334 shares in the last quarter. Institutional investors and hedge funds own 70.37% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on OTEX shares. Citigroup decreased their target price on Open Text from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Wednesday, June 26th. Barclays reduced their price objective on Open Text from $38.00 to $36.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. BMO Capital Markets reduced their price objective on Open Text from $38.00 to $33.00 and set a “market perform” rating for the company in a research report on Friday, August 2nd. Jefferies Financial Group reduced their price objective on Open Text from $42.00 to $35.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, National Bankshares lowered Open Text from an “outperform” rating to a “sector perform” rating and set a $38.00 price objective for the company. in a research 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 company’s stock. According to MarketBeat, Open Text currently has an average rating of “Hold” and a consensus price target of $38.60.

Open Text Stock Performance

Shares of OTEX stock opened at $32.76 on Monday. Open Text Co. has a 1-year low of $27.50 and a 1-year high of $45.47. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $8.84 billion, a price-to-earnings ratio of 52.84 and a beta of 1.11. The stock’s fifty day simple moving average is $31.38 and its 200-day simple moving average is $32.53.

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

Open Text Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were given a dividend of $0.192 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.77 annualized dividend and a dividend yield of 2.34%. Open Text’s dividend payout ratio (DPR) is presently 169.35%.

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.