Mufg Securities Canada LTD. Sells 37,110 Shares of Open Text Corporation $OTEX

Mufg Securities Canada LTD. reduced its holdings in Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) by 8.8% in the 4th quarter, Holdings Channel reports. The fund owned 383,718 shares of the software maker’s stock after selling 37,110 shares during the quarter. Mufg Securities Canada LTD.’s holdings in Open Text were worth $12,499,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of OTEX. CIBC Private Wealth Group LLC bought a new position in shares of Open Text during the third quarter worth about $33,000. WealthCollab LLC grew its holdings in shares of Open Text by 39.5% during the second quarter. WealthCollab LLC now owns 1,640 shares of the software maker’s stock worth $48,000 after buying an additional 464 shares in the last quarter. Osaic Holdings Inc. grew its holdings in shares of Open Text by 108.8% during the second quarter. Osaic Holdings Inc. now owns 1,798 shares of the software maker’s stock worth $52,000 after buying an additional 937 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Open Text by 39.7% during the second quarter. EverSource Wealth Advisors LLC now owns 2,005 shares of the software maker’s stock worth $59,000 after buying an additional 570 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Open Text by 55.5% during the fourth quarter. Barclays PLC now owns 1,854 shares of the software maker’s stock worth $60,000 after buying an additional 662 shares in the last quarter. 70.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on OTEX. Scotiabank decreased their price objective on Open Text from $50.00 to $40.00 and set a “sector outperform” rating for the company in a report on Friday, May 8th. Raymond James Financial decreased their price objective on Open Text from $42.00 to $35.00 and set an “outperform” rating for the company in a report on Friday, May 8th. UBS Group set a $25.00 price objective on Open Text in a report on Friday, May 8th. National Bank Financial decreased their price target on Open Text from $45.00 to $33.00 and set an “outperform” rating for the company in a research note on Wednesday, May 27th. Finally, Scotia decreased their price target on Open Text from $50.00 to $40.00 and set a “sector outperform” rating for the company in a research note on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $33.67.

Open Text Price Performance

OTEX stock opened at $22.23 on Monday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.56. The business has a 50 day moving average price of $22.95 and a two-hundred day moving average price of $26.37. The company has a market cap of $5.39 billion, a price-to-earnings ratio of 10.84 and a beta of 1.05. Open Text Corporation has a twelve month low of $20.00 and a twelve month high of $39.90.

Open Text (NASDAQ:OTEX) (TSE:OTC) last posted its quarterly earnings results on Thursday, May 7th. The software maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.07. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.26 billion. Open Text had a return on equity of 24.77% and a net margin of 9.91%.The business’s revenue was up 2.2% compared to the same quarter last year. During the same period last year, the company earned $0.82 earnings per share. Analysts anticipate that Open Text Corporation will post 4.05 EPS for the current fiscal year.

Open Text Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, June 5th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Friday, June 5th. Open Text’s dividend payout ratio (DPR) is currently 53.66%.

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.