C WorldWide Group Holding A S acquired a new stake in Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) during the second quarter, Holdings Channel reports. The firm acquired 29,400 shares of the software maker’s stock, valued at approximately $1,203,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. World Asset Management Inc raised its position in shares of Open Text Corporation by 0.8% in the second quarter. World Asset Management Inc now owns 15,497 shares of the software maker’s stock valued at $489,000 after buying an additional 125 shares during the period. US Bancorp DE raised its position in shares of Open Text Corporation by 6.8% in the second quarter. US Bancorp DE now owns 8,206 shares of the software maker’s stock valued at $258,000 after buying an additional 524 shares during the last quarter. Meadow Creek Investment Management LLC raised its position in shares of Open Text Corporation by 99.0% in the first quarter. Meadow Creek Investment Management LLC now owns 3,088 shares of the software maker’s stock valued at $105,000 after buying an additional 1,536 shares during the last quarter. Koch Industries Inc. raised its position in shares of Open Text Corporation by 28.7% in the first quarter. Koch Industries Inc. now owns 7,237 shares of the software maker’s stock valued at $246,000 after buying an additional 1,616 shares during the last quarter. Finally, Nationwide Fund Advisors raised its position in shares of Open Text Corporation by 3.8% in the first quarter. Nationwide Fund Advisors now owns 51,500 shares of the software maker’s stock valued at $1,752,000 after buying an additional 1,900 shares during the last quarter. Institutional investors and hedge funds own 67.81% of the company’s stock.

Shares of Open Text Corporation (NASDAQ:OTEX) opened at 31.91 on Friday. Open Text Corporation has a 12 month low of $29.30 and a 12 month high of $35.21. The company’s 50-day moving average is $32.55 and its 200 day moving average is $33.19. The stock has a market capitalization of $8.39 billion, a P/E ratio of 7.96 and a beta of 0.51.

Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) last posted its quarterly earnings data on Thursday, August 3rd. The software maker reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 company had revenue of $663.60 million for the quarter, compared to analyst estimates of $662.36 million. During the same quarter last year, the company earned $0.45 EPS. The business’s revenue was up 37.2% compared to the same quarter last year. Equities research analysts predict that Open Text Corporation will post $2.47 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 1st will be given a $0.132 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.53 dividend on an annualized basis and a yield of 1.65%. Open Text Corporation’s dividend payout ratio is currently 12.74%.

COPYRIGHT VIOLATION WARNING: This piece of content was first posted by Watch List News and is the property of of Watch List News. If you are viewing this piece of content on another website, it was copied illegally and reposted in violation of U.S. and international trademark & copyright law. The correct version of this piece of content can be viewed at https://www.watchlistnews.com/29400-shares-in-open-text-corporation-otex-acquired-by-c-worldwide-group-holding-a-s/1478023.html.

Several research analysts recently issued reports on OTEX shares. TD Securities reiterated a “buy” rating and issued a $52.00 price target on shares of Open Text Corporation in a research note on Tuesday, May 2nd. Scotiabank reiterated an “outperform” rating and issued a $56.00 price target (up from $41.00) on shares of Open Text Corporation in a research note on Thursday, May 4th. Zacks Investment Research lowered shares of Open Text Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, May 13th. BidaskClub lowered shares of Open Text Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, June 29th. Finally, BMO Capital Markets set a $38.00 price target on shares of Open Text Corporation and gave the stock a “buy” rating in a research note on Tuesday, May 9th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $42.11.

About Open Text Corporation

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.

Want to see what other hedge funds are holding OTEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Open Text Corporation (NASDAQ:OTEX) (TSE:OTC).

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

Receive News & Ratings for Open Text Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Open Text Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.