Nationwide Fund Advisors lifted its holdings in Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) by 1.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,400 shares of the software maker’s stock after purchasing an additional 900 shares during the quarter. Nationwide Fund Advisors’ holdings in Open Text Corporation were worth $1,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of OTEX. New South Capital Management Inc. raised its stake in shares of Open Text Corporation by 92.1% in the first quarter. New South Capital Management Inc. now owns 6,592,938 shares of the software maker’s stock worth $224,226,000 after purchasing an additional 3,161,643 shares during the last quarter. Vanguard Group Inc. increased its position in Open Text Corporation by 126.3% during the first quarter. Vanguard Group Inc. now owns 5,446,137 shares of the software maker’s stock valued at $185,223,000 after acquiring an additional 3,039,282 shares during the last quarter. AQR Capital Management LLC increased its position in Open Text Corporation by 166.1% during the first quarter. AQR Capital Management LLC now owns 1,559,541 shares of the software maker’s stock valued at $52,856,000 after acquiring an additional 973,471 shares during the last quarter. Bank of America Corp DE increased its position in Open Text Corporation by 98.9% during the first quarter. Bank of America Corp DE now owns 889,399 shares of the software maker’s stock valued at $30,249,000 after acquiring an additional 442,295 shares during the last quarter. Finally, Highstreet Asset Management Inc. increased its position in Open Text Corporation by 331.1% during the second quarter. Highstreet Asset Management Inc. now owns 539,152 shares of the software maker’s stock valued at $17,026,000 after acquiring an additional 414,077 shares during the last quarter. Hedge funds and other institutional investors own 66.26% of the company’s stock.

A number of analysts recently commented on the company. Zacks Investment Research upgraded Open Text Corporation from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research report on Wednesday. Barclays PLC upped their price objective on Open Text Corporation from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, August 4th. BMO Capital Markets reiterated an “outperform” rating and set a $40.00 price objective on shares of Open Text Corporation in a research report on Friday, August 4th. Scotiabank reiterated an “outperform” rating and set a $50.00 price objective (up previously from $41.00) on shares of Open Text Corporation in a research report on Friday, August 4th. Finally, BidaskClub raised Open Text Corporation from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $41.75.

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Open Text Corporation (NASDAQ OTEX) opened at 33.70 on Wednesday. The stock has a 50 day moving average price of $32.33 and a 200-day moving average price of $32.73. The company has a market cap of $8.86 billion, a price-to-earnings ratio of 8.40 and a beta of 0.47. Open Text Corporation has a 1-year low of $29.30 and a 1-year high of $35.21.

Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) last posted its earnings results on Thursday, August 3rd. The software maker reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.07). Open Text Corporation had a net margin of 44.77% and a return on equity of 8.92%. The business had revenue of $663.60 million for the quarter, compared to analyst estimates of $662.36 million. During the same quarter last year, the business earned $0.45 earnings per share. Open Text Corporation’s revenue was up 37.2% on a year-over-year basis. On average, equities research analysts forecast that Open Text Corporation will post $2.48 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 1st were given a dividend of $0.132 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend was Wednesday, August 30th. Open Text Corporation’s dividend payout ratio (DPR) is presently 12.74%.

Open Text Corporation Profile

Open Text Corporation provides a platform and suite of software products and services that assist organizations in finding, utilizing, and sharing business information from any device. The Company designs, develops, markets and sells Enterprise Information Management (EIM) software and solutions. Its EIM offerings include Enterprise Content Management (ECM), Business Process Management (BPM), Customer Experience Management (CEM), Business Network, Discovery and Analytics.

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

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