Campbell & CO Investment Adviser LLC Makes New $896,000 Investment in Open Text Co. (NASDAQ:OTEX)

Campbell & CO Investment Adviser LLC bought a new position in shares of Open Text Co. (NASDAQ:OTEXFree Report) (TSE:OTC) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 25,519 shares of the software maker’s stock, valued at approximately $896,000.

Several other hedge funds have also recently bought and sold shares of OTEX. Wetherby Asset Management Inc. grew its stake in shares of Open Text by 2.2% during the 1st quarter. Wetherby Asset Management Inc. now owns 12,622 shares of the software maker’s stock worth $487,000 after acquiring an additional 272 shares in the last quarter. Signaturefd LLC grew its stake in shares of Open Text by 1.5% during the 2nd quarter. Signaturefd LLC now owns 19,850 shares of the software maker’s stock worth $825,000 after acquiring an additional 297 shares in the last quarter. IFP Advisors Inc grew 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 acquiring an additional 392 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Open Text by 3.3% during the 2nd quarter. Cerity Partners LLC now owns 14,492 shares of the software maker’s stock worth $602,000 after acquiring an additional 467 shares in the last quarter. Finally, Advisor Partners II LLC grew its stake in shares of Open Text by 4.4% in the first quarter. Advisor Partners II LLC now owns 11,097 shares of the software maker’s stock valued at $428,000 after buying an additional 471 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on OTEX shares. BMO Capital Markets raised their target price on shares of Open Text from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. StockNews.com raised shares of Open Text from a “hold” rating to a “buy” rating in a research note on Tuesday. Citigroup lifted their price objective on shares of Open Text from $38.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $53.00 price objective on shares of Open Text in a research report on Friday, February 2nd. Finally, Barclays lifted their price objective on shares of Open Text from $40.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Friday, December 1st. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.71.

Get Our Latest Research Report on Open Text

Open Text Stock Up 1.8 %

OTEX stock opened at $41.86 on Friday. The company has a market cap of $11.39 billion, a PE ratio of 89.07 and a beta of 1.14. The business has a 50-day simple moving average of $41.50 and a 200 day simple moving average of $38.79. Open Text Co. has a 52 week low of $32.04 and a 52 week high of $45.47. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 2.10.

Open Text Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 20th. Investors of record on Friday, March 1st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date is Thursday, February 29th. Open Text’s dividend payout ratio (DPR) is presently 212.77%.

About Open Text

(Free Report)

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.

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

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