JPMorgan Chase & Co. raised its position in Open Text Corp (NASDAQ:OTEX) (TSE:OTC) by 276.9% during the 3rd quarter, Holdings Channel reports. The firm owned 390,422 shares of the software maker’s stock after acquiring an additional 286,835 shares during the quarter. JPMorgan Chase & Co.’s holdings in Open Text were worth $14,852,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Bessemer Group Inc. raised its holdings in shares of Open Text by 206.4% during the 3rd quarter. Bessemer Group Inc. now owns 3,741 shares of the software maker’s stock valued at $142,000 after buying an additional 2,520 shares during the period. Dixon Hubard Feinour & Brown Inc. VA purchased a new stake in shares of Open Text during the 3rd quarter valued at about $261,000. Financial Gravity Wealth Inc. raised its holdings in shares of Open Text by 128.5% during the 3rd quarter. Financial Gravity Wealth Inc. now owns 6,150 shares of the software maker’s stock valued at $201,000 after buying an additional 3,458 shares during the period. CLARET ASSET MANAGEMENT Corp raised its holdings in shares of Open Text by 36.8% during the 3rd quarter. CLARET ASSET MANAGEMENT Corp now owns 9,475 shares of the software maker’s stock valued at $360,000 after buying an additional 2,551 shares during the period. Finally, NN Investment Partners Holdings N.V. raised its holdings in shares of Open Text by 0.9% during the 3rd quarter. NN Investment Partners Holdings N.V. now owns 428,035 shares of the software maker’s stock valued at $16,282,000 after buying an additional 3,867 shares during the period. 67.27% of the stock is currently owned by institutional investors.

Shares of NASDAQ OTEX opened at $33.43 on Friday. Open Text Corp has a fifty-two week low of $31.98 and a fifty-two week high of $40.31. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.70. The company has a market cap of $9.19 billion, a price-to-earnings ratio of 31.12 and a beta of 0.40.

Open Text (NASDAQ:OTEX) (TSE:OTC) last issued its quarterly earnings data on Wednesday, October 31st. The software maker reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. Open Text had a return on equity of 7.99% and a net margin of 8.51%. The firm had revenue of $667.20 million during the quarter, compared to analyst estimates of $692.53 million. During the same quarter last year, the firm earned $0.54 EPS. Open Text’s quarterly revenue was up 4.1% on a year-over-year basis. Equities analysts expect that Open Text Corp will post 0.4 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Shareholders of record on Friday, November 30th will be paid a dividend of $0.1518 per share. The ex-dividend date is Thursday, November 29th. This represents a $0.61 dividend on an annualized basis and a yield of 1.82%. Open Text’s dividend payout ratio (DPR) is presently 67.03%.

OTEX has been the topic of several analyst reports. BidaskClub downgraded Open Text from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. Raymond James set a $48.00 target price on Open Text and gave the company an “outperform” rating in a report on Thursday, November 1st. BMO Capital Markets reiterated a “buy” rating and set a $40.00 target price on shares of Open Text in a report on Thursday, November 1st. Barclays reiterated a “buy” rating on shares of Open Text in a report on Thursday, November 1st. Finally, CIBC reiterated an “average” rating and set a $51.00 target price on shares of Open Text in a report on Monday, November 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. Open Text currently has a consensus rating of “Buy” and a consensus price target of $45.30.

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Open Text Profile

Open Text Corporation provides a suite of software products and services. The company offers content services; digital process automation, which enables organizations to transform into digital and data-driven businesses through automation; and discovery suite that provides forensics and unstructured data analytics for searching, collecting, and investigating enterprise data to manage legal obligations and risk.

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

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