Munich Reinsurance Co Stock Corp in Munich Acquires 158,698 Shares of Open Text Corporation $OTEX

Munich Reinsurance Co Stock Corp in Munich lifted its holdings in Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) by 59.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 427,564 shares of the software maker’s stock after acquiring an additional 158,698 shares during the period. Munich Reinsurance Co Stock Corp in Munich’s holdings in Open Text were worth $14,121,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in OTEX. Goldman Sachs Group Inc. lifted its holdings in shares of Open Text by 75.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,437,335 shares of the software maker’s stock valued at $36,307,000 after acquiring an additional 619,527 shares during the last quarter. United Services Automobile Association bought a new position in shares of Open Text in the 1st quarter valued at about $213,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Open Text by 39.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,005 shares of the software maker’s stock valued at $59,000 after acquiring an additional 570 shares during the last quarter. Cerity Partners LLC lifted its holdings in shares of Open Text by 3.4% in the 2nd quarter. Cerity Partners LLC now owns 49,003 shares of the software maker’s stock valued at $1,431,000 after acquiring an additional 1,612 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its holdings in shares of Open Text by 16.8% in the 2nd quarter. Qube Research & Technologies Ltd now owns 46,500 shares of the software maker’s stock valued at $1,360,000 after acquiring an additional 6,700 shares during the last quarter. Institutional investors own 70.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on OTEX. UBS Group set a $26.00 price target on shares of Open Text in a report on Friday, February 6th. TD Securities upgraded shares of Open Text to a “hold” rating in a report on Monday, February 2nd. Zacks Research downgraded shares of Open Text from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Raymond James Financial cut their price target on shares of Open Text from $48.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday, February 6th. Finally, Barclays cut their price target on shares of Open Text from $30.00 to $25.00 and set an “equal weight” rating on the stock in a report on Monday. Three analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, Open Text currently has a consensus rating of “Hold” and an average price target of $35.33.

Open Text Price Performance

Open Text stock opened at $22.43 on Friday. The stock has a market cap of $5.43 billion, a price-to-earnings ratio of 13.19 and a beta of 1.08. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.94 and a quick ratio of 0.94. Open Text Corporation has a 1 year low of $20.00 and a 1 year high of $39.90. The firm has a 50-day moving average of $23.29 and a two-hundred day moving average of $29.67.

Open Text (NASDAQ:OTEX) (TSE:OTC) last released its quarterly earnings data on Thursday, February 5th. The software maker reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.09. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Open Text had a net margin of 8.42% and a return on equity of 23.60%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the company earned $1.11 EPS. On average, research analysts forecast that Open Text Corporation will post 3.98 earnings per share for the current year.

Open Text Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, March 6th were given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend was Friday, March 6th. Open Text’s payout ratio is 64.71%.

Open Text Profile

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.