Amundi Has $14.67 Million Stock Holdings in Open Text Co. (NASDAQ:OTEX)

Amundi lifted its stake in shares of Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 15.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 526,409 shares of the software maker’s stock after purchasing an additional 69,686 shares during the quarter. Amundi owned 0.20% of Open Text worth $14,671,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. IFP Advisors Inc grew its stake in Open Text by 103.8% during the fourth quarter. IFP Advisors Inc now owns 1,011 shares of the software maker’s stock worth $29,000 after buying an additional 515 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Open Text by 40.8% during the 4th 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 increased its stake in Open Text by 20.7% in the fourth quarter. Allworth Financial LP now owns 2,564 shares of the software maker’s stock valued at $73,000 after acquiring an additional 439 shares during the last quarter. Plato Investment Management Ltd acquired a new position in Open Text during the fourth quarter valued at approximately $138,000. Finally, Asahi Life Asset Management CO. LTD. bought a new stake in Open Text during the fourth quarter worth $241,000. Institutional investors own 70.37% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. UBS Group began coverage on Open Text in a report on Tuesday, December 17th. They set a “neutral” rating and a $32.00 price target for the company. StockNews.com downgraded Open Text from a “strong-buy” rating to a “buy” rating in a research note on Monday, January 27th. Barclays raised their price target on shares of Open Text from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Citigroup increased their price objective on shares of Open Text from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Finally, TD Securities decreased their target price on shares of Open Text from $38.00 to $35.00 and set a “buy” rating on the stock in a research note on Sunday, February 9th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $35.18.

Open Text Stock Performance

NASDAQ OTEX opened at $26.06 on Friday. The company has a market capitalization of $6.88 billion, a price-to-earnings ratio of 10.59 and a beta of 1.17. Open Text Co. has a twelve month low of $24.86 and a twelve month high of $40.55. The stock has a fifty day simple moving average of $27.69 and a 200 day simple moving average of $29.91. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.50.

Open Text (NASDAQ:OTEX) (TSE:OTC) last issued its quarterly earnings data on Thursday, February 6th. The software maker reported $1.02 earnings per share (EPS) 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%. Sell-side analysts expect that Open Text Co. will post 3.45 EPS for the current year.

Open Text Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be paid a $0.2625 dividend. This is a positive change from Open Text’s previous quarterly dividend of $0.26. This represents a $1.05 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date is Friday, March 7th. Open Text’s dividend payout ratio is currently 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.