TD Waterhouse Canada Inc. Sells 138,390 Shares of Open Text Corporation $OTEX

TD Waterhouse Canada Inc. decreased its position in shares of Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) by 14.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 822,291 shares of the software maker’s stock after selling 138,390 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Open Text were worth $26,751,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OTEX. Connor Clark & Lunn Investment Management Ltd. raised its stake in Open Text by 456.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,312,755 shares of the software maker’s stock worth $86,429,000 after acquiring an additional 1,896,755 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Open Text by 48.9% during the third quarter. Dimensional Fund Advisors LP now owns 2,592,578 shares of the software maker’s stock valued at $96,914,000 after buying an additional 851,303 shares during the last quarter. First Trust Advisors LP raised its position in shares of Open Text by 9.3% during the third quarter. First Trust Advisors LP now owns 9,027,450 shares of the software maker’s stock valued at $337,445,000 after buying an additional 765,366 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Open Text by 75.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,437,335 shares of the software maker’s stock valued at $36,307,000 after purchasing an additional 619,527 shares in the last quarter. Finally, Intact Investment Management Inc. grew its holdings in shares of Open Text by 94.9% in the third quarter. Intact Investment Management Inc. now owns 1,175,680 shares of the software maker’s stock valued at $43,950,000 after purchasing an additional 572,540 shares in the last quarter. Institutional investors own 70.37% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on OTEX. Weiss Ratings reissued a “hold (c+)” rating on shares of Open Text in a report on Monday, December 29th. Raymond James Financial decreased their target price on Open Text from $48.00 to $42.00 and set an “outperform” rating for the company in a research report on Friday, February 6th. UBS Group set a $26.00 target price on Open Text in a research report on Friday, February 6th. Royal Bank Of Canada decreased their price objective on Open Text from $33.00 to $30.00 and set a “sector perform” rating for the company in a report on Friday, February 6th. Finally, TD Securities upgraded Open Text to a “hold” rating in a report on Monday, February 2nd. Three research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $35.75.

Open Text Stock Performance

OTEX opened at $23.47 on Monday. The firm’s 50-day moving average price is $23.47 and its 200-day moving average price is $30.08. The company has a market cap of $5.69 billion, a P/E ratio of 13.81 and a beta of 1.08. Open Text Corporation has a 52-week low of $20.00 and a 52-week high of $39.90. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.57.

Open Text (NASDAQ:OTEX) (TSE:OTC) last issued its earnings results on Thursday, February 5th. The software maker reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.09. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.29 billion. Open Text had a return on equity of 23.60% and a net margin of 8.42%.Open Text’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.11 earnings per share. As a group, equities analysts anticipate that Open Text Corporation will post 3.45 EPS for the current fiscal year.

Open Text Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, March 6th were issued a $0.275 dividend. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.10 dividend on an annualized basis and a yield of 4.7%. Open Text’s payout ratio is presently 64.71%.

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.