Thompson Siegel & Walmsley LLC cut its holdings in Open Text Corp (NASDAQ:OTEX) (TSE:OTC) by 45.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,275,995 shares of the software maker’s stock after selling 1,045,543 shares during the period. Thompson Siegel & Walmsley LLC owned about 0.48% of Open Text worth $44,903,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of OTEX. CIBC World Markets Inc. increased its holdings in shares of Open Text by 199.8% in the 1st quarter. CIBC World Markets Inc. now owns 3,877,541 shares of the software maker’s stock worth $134,938,000 after buying an additional 2,583,964 shares during the last quarter. Echo Street Capital Management LLC increased its holdings in shares of Open Text by 205.2% in the 1st quarter. Echo Street Capital Management LLC now owns 2,030,423 shares of the software maker’s stock worth $70,659,000 after buying an additional 1,365,106 shares during the last quarter. Toronto Dominion Bank increased its holdings in shares of Open Text by 161.0% in the 2nd quarter. Toronto Dominion Bank now owns 1,413,728 shares of the software maker’s stock worth $49,890,000 after buying an additional 872,081 shares during the last quarter. Great West Life Assurance Co. Can increased its holdings in shares of Open Text by 22.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 4,653,958 shares of the software maker’s stock worth $161,647,000 after buying an additional 849,975 shares during the last quarter. Finally, Unigestion Holding SA bought a new stake in shares of Open Text in the 2nd quarter worth about $27,942,000. Hedge funds and other institutional investors own 68.04% of the company’s stock.

Shares of NASDAQ:OTEX opened at $38.37 on Friday. The stock has a market cap of $10.31 billion, a P/E ratio of 34.68 and a beta of 0.29. Open Text Corp has a 12 month low of $31.21 and a 12 month high of $40.31. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.33 and a current ratio of 1.33.

Open Text (NASDAQ:OTEX) (TSE:OTC) last issued its quarterly earnings results on Thursday, August 2nd. The software maker reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. The company had revenue of $754.30 million for the quarter, compared to the consensus estimate of $732.02 million. Open Text had a net margin of 8.60% and a return on equity of 8.09%. The firm’s revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 EPS. equities analysts forecast that Open Text Corp will post 0.74 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 21st. Shareholders of record on Friday, August 31st will be paid a $0.1518 dividend. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.61 dividend on an annualized basis and a yield of 1.58%. Open Text’s dividend payout ratio is currently 67.03%.

OTEX has been the topic of a number of research reports. BidaskClub upgraded shares of Open Text from a “hold” rating to a “buy” rating in a report on Wednesday, June 13th. ValuEngine upgraded shares of Open Text from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. TD Securities boosted their target price on shares of Open Text from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, August 3rd. Industrial Alliance Securities upped their price target on shares of Open Text from $40.00 to $42.00 in a report on Friday, August 3rd. Finally, Raymond James upped their price target on shares of Open Text from $42.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, August 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $44.18.

Open Text Company Profile

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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