Disciplined Growth Investors Inc. MN decreased its position in shares of Open Text Corp (NASDAQ:OTEX) (TSE:OTC) by 2.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,740,395 shares of the software maker’s stock after selling 150,475 shares during the quarter. Open Text makes up about 3.9% of Disciplined Growth Investors Inc. MN’s portfolio, making the stock its 4th biggest holding. Disciplined Growth Investors Inc. MN owned approximately 2.16% of Open Text worth $185,357,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in OTEX. Dimensional Fund Advisors LP boosted its position in shares of Open Text by 73.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 63,071 shares of the software maker’s stock valued at $2,145,000 after acquiring an additional 26,733 shares during the last quarter. US Bancorp DE boosted its position in shares of Open Text by 6.8% during the 2nd quarter. US Bancorp DE now owns 8,206 shares of the software maker’s stock valued at $258,000 after acquiring an additional 524 shares during the last quarter. Korea Investment CORP boosted its position in shares of Open Text by 125.4% during the 2nd quarter. Korea Investment CORP now owns 63,086 shares of the software maker’s stock valued at $1,988,000 after acquiring an additional 35,093 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Open Text by 15.3% during the 2nd quarter. First Trust Advisors LP now owns 1,300,987 shares of the software maker’s stock valued at $41,033,000 after acquiring an additional 172,371 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Open Text by 3.0% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 41,200 shares of the software maker’s stock valued at $1,001,000 after acquiring an additional 1,200 shares during the last quarter. 66.77% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Open Text Corp (OTEX) opened at $32.53 on Monday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.74 and a current ratio of 0.74. The stock has a market cap of $8,636.13, a PE ratio of 57.07 and a beta of 0.44. Open Text Corp has a one year low of $29.58 and a one year high of $35.45.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.132 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.53 dividend on an annualized basis and a yield of 1.62%. Open Text’s dividend payout ratio (DPR) is presently 92.98%.

A number of research analysts have commented on the stock. BidaskClub cut shares of Open Text from a “hold” rating to a “sell” rating in a research report on Tuesday, December 5th. Macquarie decreased their target price on shares of Open Text from $43.00 to $40.00 in a research report on Thursday, November 23rd. Raymond James Financial cut shares of Open Text to an “underperform” rating and set a $40.00 target price on the stock. in a research report on Wednesday, November 22nd. Mitsubishi UFJ Financial Group reaffirmed an “overweight” rating on shares of Open Text in a research report on Thursday, November 2nd. Finally, CIBC upped their target price on shares of Open Text from $41.00 to $42.00 in a research report on Friday, November 3rd. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $42.27.

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Open Text 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 (NASDAQ:OTEX)

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