DGS Capital Management LLC Buys 1,271 Shares of Open Text Co. (NASDAQ:OTEX)

DGS Capital Management LLC lifted its stake in shares of Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 3.9% in the 4th quarter, Holdings Channel reports. The fund owned 33,511 shares of the software maker’s stock after acquiring an additional 1,271 shares during the quarter. Open Text accounts for approximately 0.5% of DGS Capital Management LLC’s investment portfolio, making the stock its 28th biggest position. DGS Capital Management LLC’s holdings in Open Text were worth $1,408,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in OTEX. Pacifica Partners Inc. acquired a new stake in shares of Open Text during the 4th quarter worth about $32,000. IFP Advisors Inc lifted its stake in shares of Open Text by 82.0% during the 3rd quarter. IFP Advisors Inc now owns 870 shares of the software maker’s stock worth $31,000 after buying an additional 392 shares during the last quarter. Allworth Financial LP lifted its stake in shares of Open Text by 125.7% during the 3rd quarter. Allworth Financial LP now owns 957 shares of the software maker’s stock worth $34,000 after buying an additional 533 shares during the last quarter. Power Corp of Canada acquired a new stake in shares of Open Text during the 1st quarter worth about $43,000. Finally, Impact Partnership Wealth LLC acquired a new stake in shares of Open Text during the 3rd quarter worth about $37,000. Institutional investors and hedge funds own 70.37% of the company’s stock.

Open Text Price Performance

OTEX stock traded down $0.01 during mid-day trading on Tuesday, hitting $34.71. The stock had a trading volume of 149,035 shares, compared to its average volume of 566,650. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 2.10. Open Text Co. has a 52 week low of $32.04 and a 52 week high of $45.47. The firm has a market capitalization of $9.46 billion, a P/E ratio of 73.66 and a beta of 1.09. The firm has a fifty day simple moving average of $38.88 and a 200 day simple moving average of $38.76.

Open Text (NASDAQ:OTEX) (TSE:OTC) last released its earnings results on Thursday, February 1st. The software maker reported $1.11 EPS for the quarter, beating the consensus estimate of $1.10 by $0.01. Open Text had a net margin of 2.24% and a return on equity of 22.99%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.48 billion. As a group, research analysts forecast that Open Text Co. will post 4.14 EPS for the current year.

Open Text Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Friday, March 1st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend was Thursday, February 29th. Open Text’s dividend payout ratio is currently 212.77%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. BMO Capital Markets raised their target price on shares of Open Text from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Royal Bank of Canada restated an “outperform” rating and set a $53.00 target price on shares of Open Text in a research note on Friday, February 2nd. CIBC raised their target price on shares of Open Text from $42.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, January 11th. TD Securities raised their price target on shares of Open Text from $53.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Finally, Citigroup lowered their price target on shares of Open Text from $44.00 to $42.00 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Open Text presently has an average rating of “Moderate Buy” and an average target price of $46.25.

Open Text Profile

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.