Guardian Capital LP cut its stake in shares of Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) by 0.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,122,873 shares of the software maker’s stock after selling 12,913 shares during the quarter. Open Text Corporation makes up 2.5% of Guardian Capital LP’s portfolio, making the stock its 11th largest holding. Guardian Capital LP owned about 1.95% of Open Text Corporation worth $161,503,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. New South Capital Management Inc. raised its holdings in shares of Open Text Corporation by 92.1% in the first quarter. New South Capital Management Inc. now owns 6,592,938 shares of the software maker’s stock valued at $224,226,000 after buying an additional 3,161,643 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Open Text Corporation by 126.3% in the first quarter. Vanguard Group Inc. now owns 5,446,137 shares of the software maker’s stock valued at $185,223,000 after buying an additional 3,039,282 shares during the last quarter. Blue Harbour Group L.P. bought a new position in shares of Open Text Corporation in the first quarter valued at about $102,709,000. Praesidium Investment Management Company LLC raised its holdings in shares of Open Text Corporation by 90.2% in the first quarter. Praesidium Investment Management Company LLC now owns 2,745,113 shares of the software maker’s stock valued at $93,361,000 after buying an additional 1,301,783 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Open Text Corporation by 166.1% in the first quarter. AQR Capital Management LLC now owns 1,559,541 shares of the software maker’s stock valued at $52,856,000 after buying an additional 973,471 shares during the last quarter. 66.27% of the stock is owned by institutional investors.

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A number of research firms recently issued reports on OTEX. Barclays PLC lifted their price target on Open Text Corporation from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Friday, August 4th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $40.00 price target on shares of Open Text Corporation in a report on Friday, August 4th. Scotiabank reaffirmed an “outperform” rating and issued a $50.00 price target (up from $41.00) on shares of Open Text Corporation in a report on Friday, August 4th. BidaskClub raised Open Text Corporation from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $40.00 price target on shares of Open Text Corporation in a report on Wednesday, July 12th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Open Text Corporation presently has a consensus rating of “Buy” and a consensus target price of $41.75.

Shares of Open Text Corporation (NASDAQ:OTEX) traded up 1.35% during mid-day trading on Friday, reaching $32.29. The company had a trading volume of 680,733 shares. Open Text Corporation has a 52-week low of $29.30 and a 52-week high of $35.21. The firm’s 50-day moving average price is $32.34 and its 200 day moving average price is $32.90. The company has a market cap of $8.49 billion, a price-to-earnings ratio of 8.05 and a beta of 0.48.

Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) last posted its earnings results on Thursday, August 3rd. The software maker reported $0.17 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.07). The firm had revenue of $663.60 million during the quarter, compared to the consensus estimate of $662.36 million. Open Text Corporation had a net margin of 44.77% and a return on equity of 8.92%. Open Text Corporation’s revenue for the quarter was up 37.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.45 earnings per share. Equities analysts expect that Open Text Corporation will post $2.48 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Friday, September 1st were given a $0.132 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $0.53 annualized dividend and a yield of 1.64%. Open Text Corporation’s dividend payout ratio is presently 12.74%.

Open Text Corporation Profile

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.

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

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