Generali Asset Management SPA SGR Takes $62,000 Position in Open Text Co. (NASDAQ:OTEX)

Generali Asset Management SPA SGR bought a new stake in Open Text Co. (NASDAQ:OTEX) (TSE:OTC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,193 shares of the software maker’s stock, valued at approximately $62,000.

Several other institutional investors also recently modified their holdings of OTEX. Brandes Investment Partners LP lifted its stake in Open Text by 29.2% in the fourth quarter. Brandes Investment Partners LP now owns 4,504,139 shares of the software maker’s stock valued at $127,557,000 after purchasing an additional 1,017,065 shares during the last quarter. Cooke & Bieler LP lifted its stake in Open Text by 6.6% in the fourth quarter. Cooke & Bieler LP now owns 6,308,967 shares of the software maker’s stock valued at $178,670,000 after purchasing an additional 389,220 shares during the last quarter. Toronto Dominion Bank lifted its stake in Open Text by 169.6% in the third quarter. Toronto Dominion Bank now owns 576,105 shares of the software maker’s stock valued at $19,173,000 after purchasing an additional 362,422 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Open Text in the fourth quarter valued at approximately $8,685,000. Finally, Andra AP fonden lifted its stake in Open Text by 386.5% in the fourth quarter. Andra AP fonden now owns 267,600 shares of the software maker’s stock valued at $7,578,000 after purchasing an additional 212,600 shares during the last quarter. 70.37% of the stock is owned by institutional investors.

Open Text Trading Down 0.0 %

Shares of OTEX stock opened at $26.38 on Friday. 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 52-week low of $24.86 and a 52-week high of $39.87. The company has a market capitalization of $6.96 billion, a PE ratio of 10.72 and a beta of 1.17. The business’s fifty day moving average is $27.51 and its 200 day moving average is $29.70.

Open Text (NASDAQ:OTEX) (TSE:OTC) last released its quarterly 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 return on equity of 23.23% and a net margin of 12.21%. On average, equities research analysts anticipate that Open Text Co. will post 3.45 EPS for the current fiscal year.

Open Text Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a dividend of $0.2625 per share. This is an increase from Open Text’s previous quarterly dividend of $0.26. The ex-dividend date was Friday, March 7th. This represents a $1.05 dividend on an annualized basis and a yield of 3.98%. Open Text’s dividend payout ratio (DPR) is presently 42.68%.

Wall Street Analysts Forecast Growth

OTEX has been the topic of several research analyst reports. StockNews.com downgraded Open Text from a “strong-buy” rating to a “buy” rating in a research note on Monday, January 27th. Barclays increased their target price on Open Text from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. TD Securities dropped their target price on Open Text from $38.00 to $35.00 and set a “buy” rating on the stock in a research report on Sunday, February 9th. Royal Bank of Canada dropped their target price on Open Text from $33.00 to $31.00 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. Finally, Citigroup increased their target price on Open Text from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Open Text currently has an average rating of “Hold” and an average target price of $35.18.

Open Text Company 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.