Aviva PLC Purchases 9,948 Shares of Open Text Corporation $OTEX

Aviva PLC boosted its position in Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) by 5.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 189,155 shares of the software maker’s stock after buying an additional 9,948 shares during the quarter. Aviva PLC owned approximately 0.07% of Open Text worth $5,526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Cromwell Holdings LLC grew its stake in shares of Open Text by 27.4% during the 2nd quarter. Cromwell Holdings LLC now owns 1,635 shares of the software maker’s stock worth $48,000 after acquiring an additional 352 shares during the period. Headlands Technologies LLC lifted its holdings in Open Text by 360.6% during the first quarter. Headlands Technologies LLC now owns 2,888 shares of the software maker’s stock valued at $73,000 after purchasing an additional 2,261 shares during the last quarter. United Services Automobile Association bought a new position in Open Text during the first quarter worth about $213,000. Callan Family Office LLC purchased a new position in shares of Open Text in the second quarter worth about $250,000. Finally, Ridgewood Investments LLC raised its position in shares of Open Text by 593.1% in the first quarter. Ridgewood Investments LLC now owns 8,664 shares of the software maker’s stock valued at $219,000 after purchasing an additional 7,414 shares during the period. Hedge funds and other institutional investors own 70.37% of the company’s stock.

Open Text Stock Down 0.3%

OTEX stock opened at $34.82 on Thursday. The company’s 50 day moving average is $37.35 and its 200 day moving average is $32.03. The stock has a market cap of $8.77 billion, a price-to-earnings ratio of 21.10 and a beta of 1.14. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.61. Open Text Corporation has a 1-year low of $22.79 and a 1-year high of $39.90.

Open Text (NASDAQ:OTEX) (TSE:OTC) last announced its earnings results on Wednesday, November 5th. The software maker reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.05. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.27 billion. Open Text had a net margin of 8.43% and a return on equity of 22.52%. Open Text’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.93 earnings per share. Sell-side analysts predict that Open Text Corporation will post 3.45 EPS for the current fiscal year.

Open Text Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be given a $0.275 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.10 annualized dividend and a yield of 3.2%. Open Text’s payout ratio is 57.59%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. CIBC raised their price objective on shares of Open Text from $34.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. National Bankshares set a $45.00 price objective on Open Text and gave the company an “outperform” rating in a research note on Thursday, October 23rd. Barclays raised their target price on Open Text from $33.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 21st. TD Securities cut Open Text from a “buy” rating to a “hold” rating and upped their price target for the company from $35.00 to $40.00 in a research report on Friday, October 3rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Open Text in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $39.42.

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.