Open Text Corporation $OTEX Shares Purchased by Susquehanna Advisors Group Inc.

Susquehanna Advisors Group Inc. grew its position in Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) by 264.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 237,178 shares of the software maker’s stock after buying an additional 172,061 shares during the period. Susquehanna Advisors Group Inc.’s holdings in Open Text were worth $5,253,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company acquired a new position in shares of Open Text during the second quarter worth approximately $266,599,000. Norges Bank acquired a new stake in Open Text in the 4th quarter valued at approximately $106,700,000. Cibc World Market Inc. bought a new stake in Open Text during the 2nd quarter valued at $70,939,000. First Trust Advisors LP boosted its position in Open Text by 27.3% during the 4th quarter. First Trust Advisors LP now owns 11,493,714 shares of the software maker’s stock worth $374,394,000 after acquiring an additional 2,466,264 shares during the period. Finally, BlackRock Inc. acquired a new position in Open Text during the 2nd quarter worth $46,144,000. Institutional investors own 70.37% of the company’s stock.

Open Text Price Performance

OTEX opened at $25.10 on Monday. Open Text Corporation has a one year low of $19.77 and a one year high of $39.90. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.81 and a current ratio of 0.81. The stock’s fifty day moving average is $23.65 and its 200-day moving average is $23.36. The company has a market capitalization of $6.08 billion, a PE ratio of 9.73 and a beta of 1.03.

Open Text (NASDAQ:OTEX) (TSE:OTC) last announced its quarterly earnings data on Thursday, August 6th. The software maker reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.21. Open Text had a return on equity of 25.76% and a net margin of 12.26%.The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the firm posted $0.97 earnings per share. The company’s revenue was up 2.9% on a year-over-year basis. On average, equities analysts predict that Open Text Corporation will post 3.72 EPS for the current fiscal year.

Open Text Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Friday, September 4th. This is a positive change from Open Text’s previous quarterly dividend of $0.28. Open Text’s dividend payout ratio is currently 43.41%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on OTEX. Royal Bank Of Canada lowered their price target on Open Text from $30.00 to $27.00 and set a “sector perform” rating on the stock in a report on Friday, May 8th. Wall Street Zen lowered shares of Open Text from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Scotia lowered their target price on shares of Open Text from $40.00 to $33.00 and set a “sector outperform” rating on the stock in a research note on Friday, August 7th. Scotiabank dropped their price target on shares of Open Text from $40.00 to $33.00 and set a “sector outperform” rating on the stock in a research report on Friday, August 7th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Open Text in a research note on Wednesday, June 24th. Three investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $32.46.

About Open Text

Open Text Corporation is a Canadian enterprise information management (EIM) software company that develops solutions for organizations seeking to manage, protect and extract insight from their unstructured and structured data. The company’s platform encompasses document management, records management, digital asset management and archiving, enabling companies to govern information across its lifecycle.

Open Text’s product suite includes content services, business process management, customer experience management, analytics and security products.