Swiss National Bank Sells 39,000 Shares of Open Text Co. (NASDAQ:OTEX)

Swiss National Bank reduced its holdings in Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 4.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 770,900 shares of the software maker’s stock after selling 39,000 shares during the period. Swiss National Bank owned 0.29% of Open Text worth $21,806,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. BNP Paribas Financial Markets increased its holdings in Open Text by 3.3% during the third quarter. BNP Paribas Financial Markets now owns 11,093 shares of the software maker’s stock worth $369,000 after buying an additional 351 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Open Text by 40.8% in the 4th quarter. Blue Trust Inc. now owns 1,373 shares of the software maker’s stock valued at $39,000 after purchasing an additional 398 shares during the period. Allworth Financial LP lifted its stake in Open Text by 20.7% in the 4th quarter. Allworth Financial LP now owns 2,564 shares of the software maker’s stock valued at $73,000 after purchasing an additional 439 shares during the last quarter. IFP Advisors Inc grew its holdings 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 purchasing an additional 515 shares during the period. Finally, DGS Capital Management LLC increased its position in Open Text by 2.0% during the fourth quarter. DGS Capital Management LLC now owns 26,477 shares of the software maker’s stock worth $750,000 after buying an additional 530 shares during the last quarter. Institutional investors own 70.37% of the company’s stock.

Open Text Price Performance

Shares of NASDAQ:OTEX opened at $26.01 on Tuesday. The company has a market capitalization of $6.87 billion, a P/E ratio of 10.57 and a beta of 1.17. The company’s 50-day moving average is $27.63 and its 200 day moving average is $29.83. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.87 and a current ratio of 0.87. Open Text Co. has a fifty-two week low of $24.86 and a fifty-two week high of $40.55.

Open Text (NASDAQ:OTEX) (TSE:OTC) last released its earnings results on Thursday, February 6th. The software maker reported $1.02 earnings per share 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%. On average, equities research analysts forecast that Open Text Co. will post 3.45 earnings per share for the current year.

Open Text Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be given a dividend of $0.2625 per share. This represents a $1.05 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date is Friday, March 7th. This is a boost from Open Text’s previous quarterly dividend of $0.26. Open Text’s dividend payout ratio is currently 42.68%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Citigroup lifted their price objective on shares of Open Text from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. StockNews.com cut shares of Open Text from a “strong-buy” rating to a “buy” rating in a research report on Monday, January 27th. Barclays raised their price objective on Open Text from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. TD Securities dropped their target price 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. Finally, Royal Bank of Canada dropped their price objective on Open Text from $33.00 to $31.00 and set a “sector perform” rating for the company in a research report on Friday, February 7th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target 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.