UBS Group AG Purchases 26,436 Shares of Open Text Corp (NASDAQ:OTEX)

UBS Group AG lifted its position in Open Text Corp (NASDAQ:OTEX) (TSE:OTC) by 14.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 206,663 shares of the software maker’s stock after buying an additional 26,436 shares during the quarter. UBS Group AG owned about 0.08% of Open Text worth $8,515,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Beutel Goodman & Co Ltd. boosted its position in Open Text by 0.4% during the second quarter. Beutel Goodman & Co Ltd. now owns 9,922,655 shares of the software maker’s stock worth $409,457,000 after purchasing an additional 39,387 shares during the period. Vanguard Group Inc. boosted its position in Open Text by 2.9% during the second quarter. Vanguard Group Inc. now owns 7,204,153 shares of the software maker’s stock worth $296,811,000 after purchasing an additional 206,010 shares during the period. First Trust Advisors LP boosted its position in Open Text by 10.1% during the first quarter. First Trust Advisors LP now owns 2,734,060 shares of the software maker’s stock worth $105,070,000 after purchasing an additional 251,035 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in Open Text by 3.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,577,044 shares of the software maker’s stock worth $106,572,000 after purchasing an additional 77,490 shares during the period. Finally, Man Group plc boosted its position in Open Text by 9.9% during the second quarter. Man Group plc now owns 2,332,011 shares of the software maker’s stock worth $96,397,000 after purchasing an additional 209,429 shares during the period. 64.55% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have commented on the stock. Benchmark reaffirmed a “buy” rating and set a $48.00 price objective (up from $42.00) on shares of Open Text in a research report on Thursday, July 11th. CIBC reaffirmed a “buy” rating and set a $53.00 price objective on shares of Open Text in a research report on Sunday, August 4th. Raymond James set a $48.00 price objective on shares of Open Text and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Zacks Investment Research raised shares of Open Text from a “sell” rating to a “hold” rating in a research report on Thursday, October 3rd. Finally, TD Securities boosted their target price on shares of Open Text from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $47.25.

Shares of Open Text stock opened at $40.22 on Wednesday. The firm has a 50-day moving average of $40.15 and a 200-day moving average of $40.15. The stock has a market cap of $10.80 billion, a PE ratio of 37.94 and a beta of 0.56. Open Text Corp has a 52-week low of $30.99 and a 52-week high of $44.49. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.54 and a current ratio of 1.54.

Open Text (NASDAQ:OTEX) (TSE:OTC) last announced its earnings results on Thursday, August 1st. The software maker reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.10). The business had revenue of $747.20 million during the quarter, compared to the consensus estimate of $763.51 million. Open Text had a net margin of 9.95% and a return on equity of 7.50%. The company’s revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.72 EPS. Equities research analysts predict that Open Text Corp will post 1.57 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 30th were given a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend was Thursday, August 29th. This is a boost from Open Text’s previous quarterly dividend of $0.17. Open Text’s payout ratio is presently 66.04%.

About Open Text

Open Text Corporation provides a suite of software products and services. The company offers content services; digital process automation, which enables organizations to transform into digital and data-driven businesses through automation; and discovery suite that provides forensics and unstructured data analytics for searching, collecting, and investigating enterprise data to manage legal obligations and risk.

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Institutional Ownership by Quarter for Open Text (NASDAQ:OTEX)

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