Vanguard Group Inc. Sells 75,134 Shares of Open Text Corporation $OTEX

Vanguard Group Inc. cut its holdings in Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) by 0.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,613,952 shares of the software maker’s stock after selling 75,134 shares during the period. Vanguard Group Inc.’s holdings in Open Text were worth $378,232,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. CIBC Private Wealth Group LLC bought a new position in Open Text in the 3rd quarter valued at $33,000. WealthCollab LLC boosted its holdings in Open Text by 39.5% in the 2nd quarter. WealthCollab LLC now owns 1,640 shares of the software maker’s stock valued at $48,000 after purchasing an additional 464 shares during the period. Osaic Holdings Inc. boosted its holdings in Open Text by 108.8% in the 2nd quarter. Osaic Holdings Inc. now owns 1,798 shares of the software maker’s stock valued at $52,000 after purchasing an additional 937 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in 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 purchasing an additional 570 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in Open Text by 63.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,141 shares of the software maker’s stock valued at $80,000 after purchasing an additional 828 shares during the period. 70.37% of the stock is owned by institutional investors.

Open Text Stock Performance

Open Text stock opened at $23.03 on Thursday. The firm’s fifty day moving average price is $23.08 and its 200-day moving average price is $28.86. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $5.58 billion, a P/E ratio of 13.55 and a beta of 1.04. Open Text Corporation has a fifty-two week low of $20.00 and a fifty-two week high of $39.90.

Open Text (NASDAQ:OTEX) (TSE:OTC) last posted its quarterly earnings data on Thursday, February 5th. The software maker reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.09. The firm had revenue of $1.32 billion for 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 business’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter last year, the company posted $1.11 EPS. On average, equities research analysts expect that Open Text Corporation will post 3.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the stock. Citigroup cut their price target on shares of Open Text from $36.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, February 6th. Royal Bank Of Canada cut their price target on shares of Open Text from $33.00 to $30.00 and set a “sector perform” rating for the company in a report on Friday, February 6th. TD Securities raised shares of Open Text to a “hold” rating in a report on Monday, February 2nd. Canadian Imperial Bank of Commerce cut their price target on shares of Open Text from $40.00 to $37.00 and set a “neutral” rating for the company in a report on Friday, January 16th. Finally, UBS Group set a $26.00 price objective on shares of Open Text in a research report on Friday, February 6th. Three analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $36.00.

Open Text Company 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.