Natixis Advisors LLC Trims Stock Holdings in Open Text Co. (NASDAQ:OTEX)

Natixis Advisors LLC reduced its holdings in shares of Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 6.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 41,075 shares of the software maker’s stock after selling 3,016 shares during the quarter. Natixis Advisors LLC’s holdings in Open Text were worth $1,163,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of OTEX. The Manufacturers Life Insurance Company lifted its position in shares of Open Text by 1.1% during the third quarter. The Manufacturers Life Insurance Company now owns 5,642,455 shares of the software maker’s stock worth $187,952,000 after acquiring an additional 63,620 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Open Text by 126.1% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 86,260 shares of the software maker’s stock valued at $2,871,000 after purchasing an additional 48,111 shares during the period. Stifel Financial Corp purchased a new stake in Open Text during the 3rd quarter worth about $2,232,000. Verition Fund Management LLC bought a new position in Open Text in the 3rd quarter worth about $950,000. Finally, Choreo LLC purchased a new position in Open Text during the 4th quarter valued at about $564,000. 70.37% of the stock is owned by institutional investors.

Open Text Price Performance

OTEX opened at $27.16 on Wednesday. The stock has a market capitalization of $7.17 billion, a P/E ratio of 11.04 and a beta of 1.17. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.50. Open Text Co. has a 12-month low of $24.86 and a 12-month high of $39.87. The stock has a 50-day moving average price of $27.49 and a 200-day moving average price of $29.61.

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

Open Text Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on OTEX. TD Securities cut their price objective on shares of Open Text from $38.00 to $35.00 and set a “buy” rating for the company in a research report on Sunday, February 9th. StockNews.com downgraded shares of Open Text from a “strong-buy” rating to a “buy” rating in a report on Monday, January 27th. Royal Bank of Canada decreased their price target 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. UBS Group assumed coverage on Open Text in a research note on Tuesday, December 17th. They set a “neutral” rating and a $32.00 price objective for the company. Finally, Citigroup upped their target price on Open Text from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $35.18.

About Open Text

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.